Business News: SEC Grants Approval For The Commencement Of Payment To Investors Of Dantata Success – Proshare Nigeria Limited

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Business News: SEC Grants Approval For The Commencement Of Payment To Investors Of Dantata Success – Proshare Nigeria Limited

Monday, May 13, 2019  09:05AM / By SEC Nigeria / Header Image Credit: Oriental News Nigeria The Securities and Exchange Commission (the Commission), p

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Business News:
Monday, May 13, 2019  09:05AM / By SEC
Nigeria / Header Image Credit: Oriental News Nigeria

The Securities and Exchange Commission (the Commission), pursuant to its
powers under section 13(w) of the Investments and Securities Act 2007, on 6th
February 2019 sealed up the business premises of Dantata Success and Profitable
Company (DSPC).

The company has been involved in unlawful solicitation of funds from the
public with a promise of inexplicable high returns to investors. The action
taken by the Commission was with a view to protecting investors.

The Commission has granted approval for the commencement of payment to
the investors of Dantata Success, which will be supervised by an Administrator
approved by the Commission effective 31st May, 2019 or earlier.

The Commission further warns the public to exercise utmost caution
before subscribing to investment schemes by confirming the registration status
of any company or individual and the investment products they are offering
before entering into any transaction with them.

Information about entities registered by the Commission to provide
investment services can be found here or
at any of the Commission’s offices.

 

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