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Nigeria: 'Ponzi Promoters, Operators Risk 10 Years Jail Term, N20m Fine'

Summary by allAfrica

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has warned that promoters and operators of any entity engaged in a prohibited scheme will be liable on conviction to a penalty of not less than N20 million or imprisonment to a term of 10 years or both.

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Nigeria: 'Ponzi Promoters, Operators Risk 10 Years Jail Term, N20m Fine'

2 days ago·South Africa

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Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper.

Ponzi scheme operators risk 10 years jail term, N20m fine, SEC warns

The Securities and Exchange Commission, SEC, has warned that promoters and operators of any Ponzi Scheme in the country risk a penalty of not less than N20 million or imprisonment to a term of 10 years or both, upon conviction as prescribed by the provisions of the newly signed Investments and Securities Act 2025. The SEC’s Director-General, Dr. Emomotimi Agama who stated this in Abuja, said the goal of the new legislation is to strengthen the…

2 days ago

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Legit.ng - Nigeria news.

“Profits will be recovered”: SEC to prosecute Ponzi scheme operators, others under new Act

Where the former Investments and Securities Act (2007) had no clear penalties for Ponzi and illegal scheme operators, the new ISA 2025 recommends heavy sanctions.

3 days ago·Ikeja, Nigeria

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News360 Info - Breaking News, Nigerian News and Multimedia, World News.

Ponzi Operators Risk 10-Year Jail Term, ₦20m Fine In New SEC Law - News360 Info - Breaking News, Nigerian News and Multimedia, World News.

The Securities and Exchange Commission, SEC, has warned promoters and operators of entities engaged in a prohibited scheme that they will be liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both under the newly signed Investments and Securities Act (ISA) 2025. Thr Director-General of […] The post Ponzi Operators Risk 10-Year Jail Term, ₦20m Fine In New SEC Law appeared first on News360 Info - Breaking New…

3 days ago

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brandeconomy.com.ng

With new law, Ponzi operators risk 10-year jail term, N20m fine

Promoters and operators of entities engaged in any Ponzi or prohibited scheme is liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both. Thr Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said it is one of the provisions of the newly …

3 days ago

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City Business News

ISA 2025: Ponzi Operators Risk 10 Year Jail Term, N20m Fine — City Business News

Advertisements 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 2025. The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama who stated this during an interview in Abuja, said t…

3 days ago

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