The Securities and Exchange Commission has warned the public against investing in unregistered investment schemes, including Promiseland Estates Limited and Promiseland Building & Construction Limited, which promote an illegal investment scheme called Pro-Vest.
In a statement made available to newsmen Friday, the commission said its attention had been drawn to the activities of these entities, which falsely present themselves as investment advisers and fund managers in the Nigerian capital market.
“The commission hereby notifies the investing public that Promiseland Estates Limited and Promiseland Building & Construction Limited are not registered to operate in any capacity in the Nigerian capital market,” SEC stated.
Similarly, the commission cautioned against engaging with My Share, which operates under the name UYJ Multitrade Limited, warning that it also claims to be an investment adviser and fund manager without proper registration.
“The investing public is reminded to confirm the registration status of any company or entity offering investment opportunities through the Commission’s dedicated portal before engaging with them,” the statement added.
