
SEC Goes Tough On Illegal Fund Managers
The Securities and Exchange Commission (SEC) has restated its determination to go after illegal fund managers in order to bring them to book.
According to a statement issued by the Commission, the SEC acting Director-General, Ms. Mary Uduk, who said this in Abuja at the weekend, said what it had done, apart from continuing to educate people, was to also go after the promoters of these schemes.
She said: “We are stepping up our enforcement mechanisms to ensure that they are apprehended and their offices sealed off. So many of them are being prosecuted in courts, we have secured convictions …