Court Convicts 21 Companies over Alleged Unlicensed Investment Operations

Court convicts 21 firms of operating illegal investment schemes, imposes N630m fines

The EFCC accused the convicted 21 firms of acting in violation of section 57 (1) of the Banks and Other Financial Institutions Act of 2020.

Court convicts 21 companies over alleged unlicensed investment operations

The Federal High Court in Lafia, Nasarawa State, has convicted and sentenced 21 companies for allegedly operating financial investment businesses without valid licences from the Securities and Exchange Commission, SEC. Justice Anyalewa Onoja-Alapa convicted the companies after they were arraigned by the Abuja Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on September […] Court convicts 21 companies over alleged unlicen…

Court Convicts 21 Companies Over Illegal Investment Schemes

A Federal High Court sitting in Lafia, Nasarawa State, has convicted and sentenced 21 companies for operating financial investment schemes without valid licences from the Securities and Exchange Commission, SEC. The Economic and Financial Crimes Commission, EFCC, disclosed this in a post on X, stating that Justice Anyalewa Onoja-Alapa convicted the companies after they were […]

Court Convicts 21 Companies for Operating Illegal Investment Schemes - Security News Alert

Justice Anyalewa Onoja-Alapa of the Federal High Court,  Lafia Division, Nasarawa State, has convicted and sentenced 21 companies for operating without licenses from the Securities and Exchange Commission (SEC. The companies are: Ngwuoke Daniels Technologies, ⁠Credio Banco Ltd; ⁠Digital Company Ltd; ⁠Co Request Capital Nigeria Ltd; ⁠Mega Drop Quality Stores Ltd; ⁠Norland Global Ltd; Oxford […] The post Court Convicts 21 Companies for Operating I…

Court Convicts 21 Companies For Operating Illegal Investment Schemes

for operating without licenses from Security and Exchange Commission

Court orders 21 companies to pay N30m each for operating illegal investment schemes

The presiding judge, Justice Anyalewa Onoja-Alapa gave the order after convicting each of the 21 companies, on a one-count charge bordering on illegal operation, contrary to Section 57 (1) of the Banks and Other Financial Institutions Act of 2020 filed against them by Economic and Financial Crimes Commission, EFCC,