The Securities and Exchange Commission (SEC) has warned Nigerians against “investing in Silverkuun Investment Cooperative Society or Silverkuun Limited”.
In a statement on Wednesday, the commission said the company was not registered to operate in any capacity in the country’s capital market.
“The attention of the Securities and Exchange Commission has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited which holds itself out as an investment adviser/fund Manager,” the SEC said.
“The commission hereby informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity in the Nigerian Capital Market.”
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The SEC advised the public to refrain from engaging with the aformentioned company or its representatives in respect to any business in the capital market.
“The commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to financial risk including fraud and potential loss of investment,” the SEC added.
“The investing public is therefore reminded to verify the status of companies and entities offering investment opportunities on the Commission’s dedicated portal www.sec.gov.ng/cmos, before transacting with them.”
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On May 6, the SEC warned Nigerians against investing in “Property World Africa Network” (PWAN), saying the entity is not registered to solicit funds from the public.
Emomotimi Agama, the director-general of the SEC, had recently warned that the commission would not hesitate to shut down the operations of any unregistered entity.
Agama also said the promoters would be made to face the full weight of the law.
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