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PEOPLES DAILY, friday, march 27, 2020

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Patronise illegal schemes at your risk –SEC warns Nigerians By Etuka Sunday

he Securities and Exchange Commission (SEC), has again warned Nigerians against patronising fund managers that are not registered with the Commission. According to the SEC, in recent times, it has observed the proliferation of the operation of unlawful/unlicensed investment schemes, with promises of huge, but unjustifiable returns on investment “These activities are perpetrated by suspected promoters of Ponzi and other fraudulent schemes under the following identities: Loom Nigeria Money, Box Value Trading Company Ltd, Now-Now Alert, Flip Cash Investment, Result Investment Nigeria Limited,

Helping Hand and Investment and No Failure Development and Empowerment Nig. Ltd Others are “MBA Forex and Investment Ltd, Federate Investors Trading Company, Jamalife Helpers Global Ltd, Flexus Global Solutions and Investment Ltd, United Capital Investment Company Limited”. Members of the public are to note that by virtue of the provisions of Section 38(1) of the Investments and Securities Act (ISA) 2007, only persons registered with the Commission can engage in capital market activities, thus making the actions of these entities listed above unlawful. “Consequently, the general public is hereby advised to refrain from investing in any scheme of the entities listed above, and WARNS

that any person who invests in an unlicensed/unlawful scheme does so at his own peril The Acting Director-General of the SEC, Ms Mary Uduk in a recent statement, had said such outfits are not registered to carry out fund management functions of any sort, stressing that those who stubbornly patronize them end up burning their fingers. According to her, the capital market has been properly positioned to attract Nigerians and provide benefits to Nigerians who invest therein. She added that SEC has sustained its investor education programme to assist people understand whatever issues they have around the capital market. “But besides that, there are new products coming up every

day in the Nigerian capital market. We have a lot of ethical funds, one of the safest areas to invest in is in Mutual Funds, Collective Investments Schemes and we encourage Nigerians to be part of these and others”. The Acting DG said the SEC is presently undertaking various initiatives to make the capital market more user-friendly such that people can participate in it with greater ease, comfort and convenience. She added: “There is the added and all-important purpose of ensuring that the gains of your participation, be these dividends, proceeds from share sales/transfers, etc. accrue to you seamlessly, without sweat and in the shortest time possible. “The purpose is also to ensure

that you do not fall victim to the antics of fraudsters who purport to be able to double any amount of money you make available to them as investment value. “These fraudsters or promoters of Ponzi Schemes are the false prophets of the investment environment, they are the ill wind that blows no good and at whose sight you must flee; they are to be avoided. This is one message you must keep spreading to family, friends, relations and acquaintances in order to save them from the agony of loss of their hard–earned money”. Uduk therefore advised the general public to distance themselves from such schemes, adding, “Please note that anyone that subscribes to these illegal activities does so at their own risk.”

COVID-19: AEDC pledges improved power supply to customers By Etuka Sunday

buja Electricity Distribution Company (AEDC) yesterday promised improved power supply to its customers in FCT, Kogi, Niger and Nasarawa States. AEDC said, although it has been forced to scale down its operations following the global outbreak of the coronavirus pandemic, and the several protocols put in place by different subject matter experts, the federal and state governments to curtail its spread within its franchise area, it will continue to ensure the delivery of service to customers even as it takes the necessary precautions required for the safety of staff and customers. The General Manager, Corporate Communications, AEDC, Oyebode Fadipe in a statement said the company’s business continuity plan has been prepared to cater for those who must be on duty because their work schedule require that they are physically present at their work sites, those who can work from home or other remote sites as well as those who have to be on standby in the event of the need to beef up the workforce.

While encouraging customers to report their faults and complaints through online platforms like the social media, AEDC said customers who want to pay for their electricity could do so through any of the online payment channels such as the USSD codes for prepaid and postpaid customers and other service providers, details of which are contained on the website of the Company. Speaking further, AEDC said while it is concerned with the need for service delivery, it is also mindful of the need to “flatten the curve, halt the spread of the pandemic and save lives”. “Humanity is fighting the war of for survival never seen in modern history. No one person can fight a personal battle let alone a battle that confronts the entire human race. “It is therefore clear to us that much more than ever before, we need each other to jointly confront and defeat this enemy of mankind. “We need the support of our customers at a time like by showing understanding when any situation that is contrary to service deliver occurs,” the statement said.

L-R, Mary Uduk, acting DG Securities and Exchange Commission, Zainab Ahmed, minister of Finance, Budget and National Planning, Aishatu Duku, chairman, House Committee on Electoral Matters, Babangida Ibrahim, chairman house committee on Capital Market and Haruna Jalo-Waziri, MD/CEO Central Securities Clearing System Plc during the International Conference on Nigerian Commodities Market , recently in Abuja.

NCC joins other Stakeholders’ efforts to curtail COVID-19 scourge By Etuka Sunday

s the COVID-19, better known as coronavirus continues to ravage the global community, the Nigerian Communications Commission (NCC) as the telecommunications industry regulator has put in place measures to support initiatives by other stakeholders to curtail this scourge. The Commission in conjunction with industry players and all other government agencies have agreed to reduce the frequency of physical meetings all through the period of the coronavirus outbreak and

consider alternative electronic meeting platforms, in order to reduce person to person contact that may arise from travels or meetings. NCC in a statement said, departments within the Commission that interface with customers have developed e-platforms where all licensing requests, consumer complaints and BTS investigation requests could be channeled or provide designated e-mail addresses to be used for such requests throughout the pandemic period. The Commission said, it has also approved resource sharing by operators throughout the period

of coronavirus. These include fibre optics cables and other resources in the event of cable cuts and other unforeseen developments during the period of coronavirus outbreak. It said, it has also directed Mobile Network Operators (MNOs) to ensure that their Corporate Social Responsibility (CSR) programmes are in tandem with government initiatives to curtail the COVID-19 pandemic in order to provide safety and support aid materials that will protect the public against coronavirus. “All social and official visits to the Commission have been

cancelled immediately and visitors advised to use relevant online platforms and or telephone services in accessing the Commission’s services. “For those who may be affected, we implore them to take advantage of the Emergency Communications Centres (ECC) by dialing the toll free number 112. “The NCC supports Right of Passage (RoP) for all telecommunications members for easy movement in the event of a total lockdown and or restriction of movement. “The regulator is also in support of RoP for suppliers that

are involved in supplies of fuels, foods and other support services to telecom operators, to allow for free movement in the event of partial or total lockdown as a result of the coronavirus. “We are in touch with Law Enforcement Agencies to constantly protect telecom infrastructure nationwide. “We will come out from time to time with enlightenment information on the dangers of the virus so that consumers can be guided accordingly. “Since we are in this together, no effort would be spared to bring this deadly disease to an end,” the statement said.