The Nigerian government is working with regulatory bodies to get rid of fraudulence in the country’s capital market to boost investors’ confidence, an official said Wednesday.
Mounir Gwarzo, the Director General of Securities and Exchange Commission (SEC), who disclosed this at a forum in Lagos, Nigeria’s economic hub, said the commission was working with other regulatory bodies to combat proliferation of fraudulent investment outfit in the nation’s capital market.
Gwarzo added that the commission was committed to ensure zero tolerance to fraudulent activities in the market.
He stressed the need for prospective investors to seek the help of financial advisers while investing in the capital market to confirm those financial outfits that were registered with the commission.
According to him, these advisers would help ascertain the true position of any investment outfit before any financial transaction can be carried out.
On the importance of savings, he said savings played an important role in determining the one’s future and urged students and youths to embrace savings culture. Enditem