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SEC Closes Kano-based Firm Over Illegal Dealings

35 Secs Read
The Securities and Exchange Commission ( SEC ) are obviously not relaxing, but working hard to live up to expectations.

The organization has brought down a company IN Kano State recently due to theirs involvement in illegal capital market activities.

The company - Dantata Success and Profitable Company - has now been sealed.

According to SEC, the step was taken as a result of discoveries that the company was carrying out investment operations that falls within fund management without approval from the Central regulator.

The Kano-based firm is known for soliciting funds from members of the public by enticing them with returns of monthly interest on their investment.

They go on selling forms to prospective investors according to their investment plans. It was made known that the minimum amount investable is N 50 , 000 , while the maximum is N5M.

The SEC Management told the public that they decided to sealed the company so as to put an end to its unlawful activities and to protect unsuspecting investors.

They also admonished investors to only deal with fund managers that are registered with them .

Additionally, members of the public are advised to exercise due diligence and caution in making investment decisions to avoid losing their money.

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