SEC Alerts Nigerians Against Investing With Risevest And Stecs

SEC Alerts Nigerians Against Investing With Risevest And Stecs

The Securities and Exchange Commission (SEC) has issued a warning to Nigerians to avoid engaging in investment transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Limited and Stecs (Alausa) Multipurpose Cooperative Society, also known as Stecs…READ MORE…

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In a circular released in Abuja, the SEC stated that neither of these entities is registered or authorized to operate within Nigeria’s capital market.

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The SEC highlighted that Risevest (Victoria Island) Cooperative Multipurpose Society Limited is soliciting public investments through various schemes, while Stecs (Alausa) Multipurpose Cooperative Society is promoting its Stecs Commodity Mudarabah Investment Series I.

The Commission made it clear that both Risevest and Stecs are not registered to conduct any activities within the capital market, and the investment opportunities they offer have not been authorized by the SEC.

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The SEC advised the public to avoid engaging in any dealings with these organizations in relation to the capital market, emphasizing that investing with unregistered and unregulated entities puts investors at significant risk of fraud and potential financial losses.

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