Nigerian Securities and Exchange Commission has warned investors to desist from dealing with four blacklisted Italian e-commerce companies.
The commission gave the warning in a statement on the regulator’s website and obtained by The PUNCH.
SEC said the firms had been blacklisted by the Italian Securities Commission for fraudulent trading activities.
The four Italian firms include etris Group Limited, Broker Capitals Limited, MTinvesting, and NBIMarkets.
The statement partly read, “The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to a report that the Italian securities regulator, (Commissione Nazionale per le Soecieta’ e la Borsa – CONSOB) has blacklisted four (4) e-commerce companies and blocked their websites for fraudulent e-trading and unauthorized offering of financial services.
“The report noted that online financial services providers leverage the complexity of their operations and limited understanding of most prospective investors to conceal details of their activities, thus, plunging most investors into taking uninformed decisions.
“The CONSOB, therefore, called on investors to adopt the greatest diligence to make informed investment choices to safeguard their savings, including checking the registration status or otherwise of such companies.”
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