Regulatory Alerts2020-12-18
Conduct of Illegal Fund Management by Famzhi Interbiz Limited
The Nigerian Securities and Exchange Commission has identified Famzhi Interbiz Limited as conducting unregistered fund management operations in violation of the Investments and Securities Act 2007. The company unlawfully solicited public funds for unapproved products while promising guaranteed returns, prompting its referral to law enforcement for criminal investigation and prosecution. Investors are advised to verify the firm’s registration status through the Commission’s official portal before subscribing, as all dealings with unregistered entities remain at their own risk.
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