Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

People Don’t Learn From MMM: SEC Closes Another Ponzi Scheme

Onome Ohwovoriole by Onome Ohwovoriole
February 27, 2017
in Business News
SEC To Sanction 94 Firms For Not Complying With Minimum Capital Base
Share on FacebookShare on TwitterShare on Linkedin

Nairametrics|The Securities and Exchange Commission (SEC) recently shut down an investment firm masquerading as a ponzi scheme. The firm, Yuan Dong with offices in Kano, Asaba and Abuja promised daily returns of between N80 and N2400 depending on the size of one’s investment.

The difficult economy, has made many people to do away with caution, in their search for quick returns. SEC and the finance community need to carry out more awareness programmes. The finance community also needs to develop retail products that appeal to the common man. Despite the minimum requirement, for investment in treasury bills being fixed at 10,000 naira, most finance firms take amounts starting from 100,000 naira. The proposed federal savings bond should address these issues.

More importantly, people need to be jailed for fraud like this, to deter other firms from doing the same thing.

RelatedPosts

MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

Why court awarded Nigerian musician N20 million in damages against MTN, others

Related

Tags: MMMPonzi scheme

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband
    • FG to accelerate deployment of 5G services with approval for Microsoft Enterprise agreement
    • Bulls are back: Nigerian stock market gains N8 billion

    Follow us on social media:

    Recent News

    MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

    MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

    June 30, 2022
    FG approves digital ID for Internally Displaced Persons - Pantami, Minister denies approving NIPOST license fee increment , Isa Ali-Pantami, NCC to determine number of phone numbers entitled to an individual  

    FG to accelerate deployment of 5G services with approval for Microsoft Enterprise agreement

    June 30, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com