The Securities and Exchange Commission (SEC) Nigeria has issued a public notice warning investors against engaging with MY SHARE, a company operating with the name, UYJ Multitrade Limited.
The firm despite being unregistered with the Commission, has been falsely presenting itself as an Investment Adviser and Fund Manager in the Nigerian capital market
In the statement released today, SEC Nigeria urged the public to refrain from dealing with MY SHARE and UYJ Multitrade Limited or any of their representatives, citing concerns over fraud risks and potential investment losses.
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“The Commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to the risk of fraud and potential loss of investment,” the statement read.
Investors are advised to verify the registration status of investment companies on the SEC’s official portal (www.sec.gov.ng/cmos) before committing funds.
This latest warning follows previous alerts from SEC regarding other suspected fraudulent firms. The Commission has consistently cautioned the public against engaging with unregistered investment entities, emphasizing the risks of fraud and potential financial losses.
The regulatory body reaffirmed its commitment to protecting investors from fraudulent schemes and emphasised the importance of due diligence in financial transactions.
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