Regulatory Alerts2021-12-25
Activities of FinAfrica Investment Limited (Chinmark Group)
The Securities and Exchange Commission of Nigeria has issued a public warning regarding the unregistered status of FinAfrica Investment Limited and its associated Chimark Group. The Commission confirms that neither entity holds SEC registration and their promoted investment schemes lack official authorization. Consequently, the investing public is advised to conduct any capital market-related business with these entities at their own risk.
The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to the activities of an Illegal Operator ( FINAFRICA INVESTMENT LIMITED ). The Company claimed to be an Investment Company that engages in Business Development in Commercial sectors of the economy and uses the funds in entities under Chimark Group. The Commission hereby notifies the investing public that neither FINAFRICA INVESTMENT LIMITED nor Chimark Group is registered by the SEC and the Investment Scheme promoted by these entities are also not authorized by the SEC. In view of the above, the general public is hereby WARNED that any person dealing with the within named Company in any capital market related business is doing so at his/her own risk. SIGNED MANAGEMENT