BY SAM OTUONYE
The Securities and Exchange Commission has warned the general public against investing in unregistered investment schemes including Promiseland Estates Limited and Promiseland Building & Construction Limited which hold themselves out as Investment Advisers/Fund Managers in the Nigerian Capital Market and promote an illegal investment scheme called “PRO-VEST” and MY SHARE operating under the name; UYJ MULTITRADE LIMITED.
According to the Commission “the attention of the Securities and Exchange Commission (SEC) has been drawn to the activities of Promiseland Estates Limited and Promiseland Building & Construction Limited which hold themselves out as Investment Advisers/Fund Managers in the Nigerian Capital Market and promote an illegal investment scheme called “PRO-VEST”.
The SEC stated that members of the public are specifically warned against patronizing or investing in the scheme PRO-VEST.
Similarly, the Commission said its attention has been drawn to the activities of MY SHARE operating under the name; UYJ MULTITRADE LIMITED which holds itself out as an Investment Adviser/Fund Manager in the Nigerian Capital Market.
“The Commission hereby notifies the investing public that Promiseland Estates Limited and Promiseland Building & Construction Limited are NOT REGISTERED to operate in any capacity in the Nigerian Capital Market.
“Accordingly, the general public is advised to refrain from engaging with Promiseland Estates Limited and Promiseland Building & Construction Limited and MY SHARE and UYJ MULTITRADE LIMITED or any of their representatives in respect of any business pertaining or relating to the Nigerian capital market.