The Securities and Exchange Commission (SEC) has warned the public against engaging in any investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Ltd. and Stecs (Alausa) Multipurpose Cooperative Society.

The commission, in a circular issued on Sunday, said neither of the entities was registered, nor authorised to operate in the capital market, neither has the investment schemes promoted by them authorised by the commission.

It further reiterated that transacting in the Nigerian capital market with unregistered and unregulated entities exposes investors to the risk of fraud and potential loss of investment.

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