The Economic and Financial Crimes Commission (EFCC) has alerted Nigerians to the operations of 58 companies posing as investment entities and defrauding innocent Nigerians of their hard-earned money.

Its Spokesperson Dele Oyewale, who disclosed this yesterday in Abuja, noted that the companies (with names available on its website) are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC), revealing that the two regulators, in separate correspondences with the EFCC, denied that they are registered with them.

Oyewale said that the commission has charged many of the companies to court, with five of them convicted, another five pleading guilty but awaiting a review of facts, while the rest are pending arraignment.

READ ANOTHER RECENT STORY https://classic97.net/reps-halt-cbn-atm-fee-hike-order-porn-site-ban/