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SEC names four companies Nigerians must avoid investing

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Nigeria’s Securities and Exchange Commission (SEC) has sounded the alarm to Nigerians over investing in four blacklisted Italian e-Commerce platforms.

In a statement issued on its website on Thursday, SEC said the Italian authorities blocked the four companies over fraudulent trading activities.

The statement by SEC said it received a report that the Italian securities regulator, Commissione Nazionale per le Societa’e la Borsa, blacklisted the four platforms and blocked their sites for fraudulent activities and offering unauthorized financial services.

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SEC listed the four companies as: Tetris Group Limited Broker Capitals Limited and MTInvesting NBIMarkets According to SEC, the companies are unregistered in Nigeria, and their investment methods are illegal.

Per SEC, the report by the Italian online financial services providers takes advantage of their operations and limited understanding of most investors to hide details of their activities and plunge investors into taking uninformed decisions.

The Italian regulator asked investors to employ the greatest diligence to make informed decisions.

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