Securities and Exchange Commission (SEC) has alerted Nigerians of the activities Silverkuun Investment Cooperative Society/Silverkuun Limited, an illegal operator in the Nigerian Capital Market.
In a press release on Wednesday, SEC stated that the attention of the commission has been drawn to the activities of the aforementioned entity which holds itself out as an Investment Adviser/Fund Manager.
“The Commission hereby informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity in the Nigerian Capital Market,” the statement read.
Accordingly, the public is advised to refrain from engaging with Silverkuun Investment Cooperative Society/Silverkuun Limited or its representatives in respect of any business in the Nigerian capital market.
The Commission reiterated that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to financial risk including fraud and potential loss of investment. The investing public is therefore reminded to verify the status of companies and entities offering investment opportunities on the Commission’s dedicated portal – www.sec.gov.ng/cmos, before transacting with them.
On its website, Silverkuun says that it is a financial institution, targeted at offering high returns on fixed savings, loans with low interest rates, savings techniques & creating financial awareness for individuals and businesses across Nigeria.
It’s financial solutions ranges “from easy loans, fixed savings, digital finance management, secured wallet systems, savings account and more” to bring the best out of customer’s finances, personally or business wise.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
