By Aduragbemi Omiyale
Six online trading platforms, including Prime Invest, have been blacklisted by the Securities and Exchange Commission (SEC).
A statement from SEC explained that the action was taken on the companies because they are not authorized to offer investment and finance services and products to Nigerians.
The affected firms are Prime Invest and Primeinv.co, FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC and Trust Fund- Mining Global Pty Limited.
“Members of the public are advised to adopt the greatest diligence in making investment choices.
“In view of the above, the general public is hereby warned that any person dealing with the above-mentioned e-commerce websites is doing so at his or her own risk,” the statement made available to Business Post by SEC stated.
SEC is the agency authorized by the Nigerian government to regulate the country’s capital market.
It was given the power to ensure that any organisation’s financial services or products to the investing public are registered so as to protect the interest of investors.
In the notice, SEC said the aforementioned e-commerce companies had not registered with it and, therefore, the “financial services offered by them are also not authorized.”
The SEC earlier warned the public against patronising a set of firms blacklisted by Italy’s securities regulator, Commissione Nazionale per le Soecieta’ e la Borsa (CONSOB).
CONSOB had blacklisted five additional e-commerce websites for offering unauthorised and fraudulent financial services.
The blacklisted websites included CMS or capmarketstrategy.io, Bitsterzio, Invest Atlas, Ether-Arena Limited and Ether-Arena Limited, operating under veneab.co.
CONSOB had ordered Internet Service Providers (ISP) operating in Italy to block public access to the blacklisted websites and called on prospective investors to adopt the greatest diligence in making investment choices.
Adedapo Adesanya 
Dipo Olowookere