Securities and Exchange Commission has advised the public to exercise extreme caution with regard to digital (crypto currencies) as a vehicle of investments.
The
commission stressed that none of the persons, companies or entities
promoting crypto currencies had been recognised or authorised by it or
by other regulatory agencies in Nigeria to receive deposits from the
public or to provide any investment or other financial services in or
from Nigeria.
“The public should
also be aware that any investment opportunities promoted by these
persons, companies or entities are likely to be of a risky nature with a
high risk of loss of money, while others may be outright fraudulent
pyramid schemes,” SEC said
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