Regulatory Alerts2017-02-16
Conviction of Marian Moses Ventures Ltd by the Federal High Court Kaduna Division
The Securities and Exchange Commission announces the Federal High Court Kaduna's October 27, 2016 conviction of Marian Moses Ventures Ltd and Managing Director Moses Samanja, who received a five-year prison term. The court ordered the Corporate Affairs Commission to wind up the company and deploy its funds to restitute clients, citing unlicensed deposit collection with unrealistic returns. Investors are advised to verify a firm's SEC registration or Central Bank of Nigeria license before subscribing to any investment scheme.
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