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According to the efcc, these companies operate under the guise of legitimate investment platforms but lack proper registration with the central bank of nigeria (cbn) and the securities and exchange commission (sec). The two regulators, in separate correspondences with the efcc, denied that. The economic and financial crimes commission (efcc) has uncovered 58 fraudulent companies involved in illegal investment schemes that have deceived many nigerians, leading to financial losses.
The corporate of affairs commission (cac) has exposed 15 fake companies operating in nigeria without registering, warning nigerians not to do business with them. The companies are neither registered with the central bank of nigeria, cbn, nor the security exchange commission, sec The economic and financial crimes commission (efcc) has issued a public alert on 58 companies allegedly operating illegal ponzi schemes across nigeria
Ponzi schemes are fraudulent investment operations that promise big profits with little risk.
Welcome to corporate affairs commission nigeria's corporate registry the corporate affairs commission was established by the companies and allied matters act, which was promulgated in 1990 to regulate the formation and management of companies in nigeria. In a sweeping crackdown on suspected fraudulent investment schemes, the economic and financial crimes commission (efcc) has exposed 58 companies allegedly involved in deceptive financial activities across agriculture, real estate, finance, and trading sectors.
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