In response to the Nigerian SEC's warning regarding unauthorized investment activities, Risevest has provided clarifications on its operations.
Risevest's Response to SEC's Statement
In response to the SEC warning, Risevest stated that its cooperative is registered in Nigeria and operates in compliance with local laws. The company also highlighted support from licensed partners such as Meristem Trustees Limited and Chaka Technologies Limited.
SEC's Actions and Market Reaction
The SEC warned investors that activities of certain cooperatives, including Risevest, are unauthorized. This statement is part of the SEC's broader policy to combat fraudulent schemes in the capital market.
Future of Market Regulation in Nigeria
The SEC has expressed its intention to strengthen the capital market and protect investors by eliminating fraud and fostering legitimate investment opportunities by 2025.
The situation surrounding Risevest underscores the importance of transparency and adherence to regulatory requirements in the investment industry.
