A professor of Capital Market, Uche Uwaleke, has called for the establishment of a National Compensation Fund to assist victims of proven Ponzi frauds. Uwaleke, also the President, Capital Market Academics of Nigeria (CMAN) made the call at a virtual workshop on Ponzi schemes on Sunday in Abuja. He said the fund can be sourced […]
By Tunde Opalana Concerned by the increasing sophistication of Ponzi scheme operators and the devastating consequences of their victims, the Senate on. Wednesday tasked the Federal Government to take drastic steps in protecting the citizenry by investigating the lapses that allowed various schemes by the predators to thrive unchecked. The Senate as well berated the […]
BY TEMITOPE ADEBAYO Promoters and operators of any entity engaged in a prohibited scheme commits an offence and is liable on conviction to a penalty of not less than N20 million or imprisonment to a term of 10 years or both. This is one of the provisions of the newly signed Investments and Securities Act […]