ISB proposes N20m fine for Ponzi scheme operators …C0NTINUE READING HERE >>>
The Securities and Exchange Commission (SEC) says the Investments and Securities Bill (ISB) 2024 is proposing a penalty of not less than N20 million or 10 years imprisonment or both for Ponzi scheme operators.
The Director-General of SEC, Dr Emomotimi Agama, said this at the Public Hearing of the bill on Thursday in Abuja.
Agama said that the bill also prescribed stringent jail terms and other stiff sanctions for the promoters of Ponzi schemes.
He said that SEC introduced an…
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