The Securities and Exchange Commission (SEC) has issued a strong warning to investors, urging them to avoid investment transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Limited and Stecs (Alausa) Multipurpose Cooperative Society.
The Commission highlighted that neither Risevest nor Stecs is registered or authorized to operate in the Nigerian capital market. Both entities have been promoting unauthorized investment schemes, including the Stecs Commodity Mudarabah Investment Series I.
The SEC emphasised that dealing with unregistered entities exposes investors to significant risks, including fraud and potential financial loss. The Commission reaffirmed its commitment to protecting investors and combating the activities of illegal operators in the capital market.
Investors are advised to verify the registration status of any capital market operator through the SEC’s official channels before engaging in investment activities.
