MBA Forex Is Illegal, We Warned Nigerians - SEC

 

The Securities and Exchange Commission has said it warned Nigerians against illegal companies like MBA Forex trading.

 

The Port Harcourt Head of Investigation and Enforcement for SEC, Suzzie Enebli made the observation during at event held in Port Harcourt.

 

Enebli was reacting to series of protests by investors of the MBA Forex who are demanding for the refund of their investment capital and the arrest and prosecution of the management of the scheme.

 

The SEC official disclosed that the MBA Forex has been illegally operating in Nigeria, noting that the scheme was denied registration by the commission following its failure to meet the requirements.

 

She said “MBA Forex has never been registered with the Securities and Exchange Commission. They tried to get registered with us, but failed to meet our registration requirements.

 

She further advised the general public to apply their due diligence before investing in any scheme by visiting the regulator’s website.