The Securities and Exchange Commission (SEC), of Nigeria on Friday issued a statement warning the general public against the “illegal products” being offered by iBSmartify the promoters of iBledger and InksNation.
SEC warned that the promoters of iBSmartify and the illegal products they offer are not regulated by the agency and that anyone dealing with iBSmartify or similar entity “does so at his/her own risk”
SEC Nigeria is a government agency mandated to regulate and develop the Nigerian capital market.
In a statement published on its website and its official Twitter handle on Friday, 26 June SEC said “the attention of the Commission has been drawn to the activities of iBSmartify Nigeria the promoters of a Blockchain known as iBledger (iBcashcryptocurrency) and InksNation.
“The general public is hereby advised that neither the promoters of iBSmartify Nigeria nor the illegal products they offer are registered or regulated by the Commission.
“In view of the above, the general public is hereby WARNED that any person dealing with the said entity and others in the same business in any manner whatsoever, does so at his/her own risk.”
According to the description on its website “iBSmartify Nigeria invented the World’s First Philanthropic Blockchain (InksLedger) and the World’s First Charitable Trust DAO (InksNation) which can end poverty in any country in less than 9 months incentivising goodness, promoting love, unity, oneness, peace and equitable distribution of wealth. We also invented the world’s first Reserve Cryptocurrency called PinKoin, Africa’s first QR Debit Card called PinKard and lots more.”