The Securities and Exchange Commission, SEC, has warned Nigerians against the activities of AfriquantumX, saying the self acclaimed investment platform trading on and selling cryptocurrency and stocks to investors, is not registered.
The Commission, in a statement released Tuesday October 7 on its Xhandle, revealed that the operations of AfriquantumX, exhibit characteristics commonly associated with fraudulent Ponzi schemes.
The statement credited to the management of SEC, advised members of the public to be cautious about investing with the said AfriquantumX, warning that any person who places investment or engages with the entity, does so at his/her own risk.
“The Commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to financial risk including fraud and potential loss of investment. The investing public is therefore reminded of the need to VERIFY the registration status of companies and entities offering investment opportunities on the Commission's dedicated portal - www.sec.gov.ng/cmos, before transacting with them”, the statement, added.
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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