ABUJA — The Economic and Financial Crimes Commission (EFCC) has issued a public warning about 58 companies operating as investment firms while defrauding Nigerians of their money.
“These entities are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC),” the EFCC said in a statement Tuesday. “The regulators have confirmed that they do not recognize these firms.”
The anti-graft agency said it has taken legal action against several of the companies, with five already convicted, another five awaiting judgment, and the rest pending arraignment.
The list includes Wales Kingdom Capital, Oxford International Group, MBA Trading & Capital Investment Limited, Chinmark Homes & Shelters Limited, and Barrick Gold Mining Company, among others.
The EFCC assured Nigerians of continued monitoring of financial activities to protect the public from fraudulent operators. “We remain committed to sanitizing the nation’s financial space and ensuring economic stability,” the commission stated.
