September 27, 2021
Scam/Fraud

Nigerians lose N300b to ponzi schemes, speculative trade | The Guardian Nigeria News


• Two commit suicide as operators task FG on national development
• Any unregistered investment scheme is illegal, says SEC
• Founders on the run as EFCC arrests 10 operators
• Experts list measures to safeguard Nigerians against falling victim

Rising inflation, perceived poor performance of the capital market, as well as low returns on government securities have exposed Nigerians to speculative and dubious schemes with victims suffering over N300 billion in the last five years.
   
Following the losses, experts have urged the Federal Government to create policies that will promote national development, tackle prevailing stock market volatility, restore the stock market to sustainable growth and make returns on investment in Federal Government bonds more attractive.
   
Notwithstanding some modest advancement in the equities market, the country’s investment climate has continued to witness the proliferation of…

Read full article here: guardian.ng