The Securities and Exchange Commission (SEC) on Monday sealed the office of the New Nation Finance House in Abeokuta, Ogun.

Mr Alani Falade, leader of the commission’s task force which shut down the outfit, told reporters after the exercise that the firm was operating illegally without registration.

Falade said that the commission had embarked on nationwide closure of all the offices of the finance house since February 3.

He added that SEC had shut down eight of the firm’s premises in different states including the one in Ogun.

Falade said that the exercise was part of the commission’s responsibility of regulating the capital market and protecting innocent people from falling victims of wrong investment schemes.

“The capital market is a key component of the nation’s economy, hence we need to get it properly sanitised to enhance local and foreign investors,” he said.


He called on members of the public to always ensure that they invested in securities only with firms which were registered with SEC. (NAN)

Source: Leadership