Skip to content

Live On Air

🎧 Listen Live 🔴

  • Home
  • Classic TV
  • Shows
  • The Crew
  • News
  • Events
  • Competitions

SEC Issues Stern Warning to Ponzi Scheme Operators

News

SEC Issues Stern Warning to Ponzi Scheme Operators

The Securities and Exchange Commission (SEC) has issued a stern warning to Ponzi scheme operators in Nigeria, stating that anyone convicted could face penalties of at least N20 million in fines, up to 10 years in prison, or both, under the newly signed Investments and Securities Act 2025.

SEC Director-General Dr. Emomotimi Agama explained that the new law strengthens investor protection, allows the SEC to prosecute offenders, and introduces measures such as confiscating illicit profits. It also grants the SEC the power to access phone records for prosecuting Ponzi scheme operators.

READ ANOTHER RECENT STORY https://classic97.net/nigeria-to-host-2026-commonwealth-fencing-championships/

More Posts

Senate Confirms Waheedi Shaibu as Army Chief

Senate Confirms Waheedi Shaibu as Army Chief

Read More »
Reps Move to Strengthen Anti-Money Laundering Law

Reps Move to Strengthen Anti-Money Laundering Law

Read More »
Ex-General Urges Military to Focus on Insurgency

Ex-General Urges Military to Focus on Insurgency

Read More »
NSCDC Arrests Four Suspected House Burglars in Kano

NSCDC Arrests Four Suspected House Burglars in Kano

Read More »
  • 2025 Copyright © Megalectrics Limited
  • Privacy Policy
  • Terms
Facebook-f Instagram Twitter Youtube
Facebook-f Instagram Twitter Youtube
  • Copyright © 2022 Megalectrics Limited
  • Listen Live

Live On Air

  • About Us
  • Shows
  • News
  • Classic TV
  • The Crew
  • Contact Us

Classic 97.3 FM

LAGOS

26 Keffi Street, Off Awolowo Road, Ikoyi, Lagos

  • Port-Harcourt
  • Abuja
  • Privacy Policy
  • Terms
  • 2025 Copyright © Megalectrics Limited
Facebook-f Instagram Twitter Youtube
  • Listen Live

Live On Air

  • Home
  • About Us
  • Classic TV
  • Shows
  • The Crew
  • News
  • Contact Us
Facebook-f Instagram Twitter Youtube
  • Privacy Policy
  • Terms
  • Copyright © 2022 Megalectrics Limited