Business
By Benprince Ezeh
THE Central Bank of Nigeria, CBN, through its Financial Services Regulation Coordinating Committee, FSRCC has advised the general public to refrain from dealing with unlicensed or illegal financial operators, who lure and defraud unsuspecting members of the public by offering extra-ordinary returns on investments as bait.
In a statement published on CBN website by the inter-agency and signed by its secretary on Monday, April 4, 2022, it said: “The FSRCC wishes to draw the attention of the general public to the worrisome increase in the activities of the Illegal Financial Operators, IFOs, which portends grave risk to public confidence and the stability of the Nigerian Financial System.
“Members of the public are advised to visit the websites of CBN, Securities and Exchange Commission, SEC, and other relevant member agencies of the FSRCC to verify the registration and license status of such companies and schemes before investing in them,” it stated.
According to statement, the general publics are advised to report individuals or entities suspected to be involved in such nefarious activities to the law enforcement agencies.
“Financial Regulatory agencies shall continue to carry out all necessary due diligence before registering/licensing any operator under their regulatory purview. In addition, agencies shall refer to relevant supervisory authorities for confirmation before finalizing on any registration/licensing application.
“Member agencies are encouraged to engage in regular sensitization campaigns on the threats posed by the activities of Illegal Financial Operators,” the inter-agency said.
Apr. 4 2022 @ 16:08 GMT |
C.E
Tags: CBN FSRCC SEC
