No fewer than six online trading entities have been blacklisted by the Securities and Exchange Commission (SEC), a federal government agency.
The development follows its recent crackdown on unregistered and illegal companies pretending to offer investment and finance services or products.
This was contained in the commission’s statement on Monday, stressing that the proscribed firms were unregistered and not authorised to carry out such investment services.
The Commission warned members of the public to be cautious in dealing with the embargoed firms, adding that it had warned the public against patronising a set of firms blocked by Italy’s securities regulator, Commissione Nazionale per le Soecieta’ e la Borsa.
The statement partly reads; “The Commission’s attention has been drawn to the under-listed e-commerce companies and their websites offering online trading platforms to the investing public. The SEC Nigeria does not register them, and their financial services are also not authorised.
“The blacklisted firms: Prime Invest and “Primeinv.co, FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC and Trust Fund Mining Global Pty Limited,” the statement added.