The Securities and Exchange Commission (SEC) on the 14th of March, 2022, disclosed that three firms have been shut down by the Commission for illegally undertaking capital market activities. The premises of Oxford International Group/Oxford Commercial services, Farmforte Agro Allied Solutions Limited/Agro Partnerships, and Vektr Enterprise were sealed following the decision of SEC to shut down the premises. SEC released a statement on Monday 14th of March, 2022, stating that the firms were carrying out investment operations which fall within the scope of fund management, but were not registered by the Securities and Exchange Commission.

The Commission went further to warn the general public that none of the aforementioned entities are currently registered with SEC, and advised members of the public to confirm from the Commission whether an entity providing investment services has been duly registered with the Commission, and whether the investment schemes are authorized by the Commission.

REFERENCES

https://www.vanguardngr.com/2022/03/sec-shuts-down-three-companies-for-operating-illegal/

https://dailytrust.com/sec-shuts-down-three-investment-firms-for-illegal-activities