Cracking Down on Ponzi Schemes: Nigeria Moves to Reinforce Financial Integrity
In a sweeping effort to safeguard Nigerians from fraudulent investment schemes, the Securities and Exchange Commission (SEC) is pushing for stronger legal measures to curb Ponzi and pyramid scams. Under the proposed 2024 Investments and Securities Bill (ISB), promoters and operators of illegal financial schemes face hefty fines and long jail sentences. The ISB seeks …
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