Report any individual or entities suspected to be involved in Illegal Financial Operators, IFOs – FSRCC, NBC declare in fresh advisory

The Financial Services Regulation and Coordinating Committee, FSRCC and the National Broadcasting Commission, NBC, have advised Nigerians to report any individual or entities suspected to be involved in the activities of illegal Financial Operators, IFOs.

Fresh Angle International, can report that the advisory which was contained in a statement released this morning, Friday August 18, noted the worrying increase in illegal Financial Operators, saying it, “portends grave risk to the public confidence and stability of the Nigerian Financial System.”

The statement obtained from the verified twitter handle of Central Bank of Nigeria, CBN, averred inter-alia: “The FSRCC and NBC in their continuing efforts to end the scourge of IFOs in Nigeria, hereby issue the following advisory to the general public:

“Refrain from dealing with unlicensed or illegal financial operators, who lure and defraud unsuspecting members of the public by offering extra-ordinary returns on investments as bait.

“Verify the licensing status of such companies and schemes on the following websites before investing in them:

a. CBN: https://www.cbn.gov.ng

b. NAICOM: https://naicom.gov.ng

c. PenCom: https://www.pencom.gov.ng

d. SEC: https://sec.gov.ng

“The Public is advised to report any individual or entities suspected to be involved in such nefarious activities to Law enforcement agencies. And Call: tolled line: 0700-225-5226; Toll-Free Line: 0800-225-5226. FSRCC Direct Line: +234-817-665-6273

“Member agencies will continue to engage in regular sensitization campaigns on the threats posed by the activities of illegal Financial Operators.

“Further enquiries may be addressed to:

“The Director, Financial Policy and Regulation Department / Secretary. FSRCC, Central Bank of Nigeria, and/or

“The Executive Commissioner, Legal, and Enforcement, Securities and Exchange Commission.”

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