The Securities and Exchange Commission (SEC) of Nigeria has issued a stern warning to the public regarding investment activities with RiseVest Technologies Limited.
In an official statement released on its Website, SEC cautioned Nigerians against engaging in any form of investment with RiseVest Technologies Limited relating to the Nigerian capital market.
According to the SEC, RiseVest Technologies Limited has not been registered or authorised to operate in any capacity in the Nigerian Capital Market.
In the statement, the commission asked Nigerians to always conduct due diligence and ensure that investment opportunities are offered by registered and regulated entities.
SEC statement reads:
In another statement, SEC also asked Nigerians to avoid Stecs (Alausa) Multipurpose Cooperative Society (popularly known as Stecs) which is inviting the public to invest in its Stecs Commodity Mudarabah Investment Series I.
The Commission hereby notifies the public that Stecs (Alausa) Multipurpose Cooperative Society is not registered to operate in any capacity in the Nigerian capital market.
Part of the statement reads:
TimesNow.com.ng reported that Risevest responded to the SECâs warning, explaining the legal standing of its operations.
The company disclosed that Risevest Cooperative Society is registered under the Cooperative Society Laws of Lagos State.
It also said its operations in Nigeria are supported by Meristem Trustees Limited, an SEC-licensed stockbroker, and Chaka Technologies Limited also an SEC-authorised digital sub-broker.
Source: TimesNow.com.ng
