NDIC Warns Against Unlicensed Money Schemes
By Oluwakemi Kindness The Nigeria Deposit Insurance Corporation (NDIC) has warned Nigerians against keeping their money in unlicensed financial schemes, particularly those offering unrealistic returns. The Corporation said the collapse of Ponzi schemes has repeatedly exposed Nigerians to significant financial losses from entrusting their savings to unregulated operators. The Managing Director/Chief Executive of the NDIC, […]
₦1.5 Trillion Lost: FG Moves to Curb Ponzi Scheme Epidemic
By Al- Kadriyar Abdullahi With Nigerians losing about ₦1.5 trillion in one year to fraudulent investment schemes, the Federal Government has stepped up efforts to curb the spread of Ponzi operations by strengthening public awareness and investor education nationwide. In response, the National Orientation Agency (NOA) and the Securities and Exchange Commission (SEC) have inaugurated […]