The Securities and Exchange Commission (SEC) has restated its position on the proposed launch of Crowdyvest Halal Fund by Crowdyvest, stressing that the company is not registered for any funding scheme operations in the country.
The commission has, therefore, warned the public to be wary in their investments efforts and ensure that only legally registered entities are patronized.
Noting that Crowdyvest is an unregistered entity purporting to operate as a corporative society, the capital market regulator, maintained that it had since “issued a Cease and Desist Order to Crowdyvest to stop the launch and operations of the Crowdyvest Halal Fund and any other investment activity which involves soliciting investments and deposits from the public.
“The general public is hereby put on notice and reminded to confirm and verify the registration status of entities offering investment product with the Commission and entities offering savings products with the Central Bank of Nigeria”, the commission added.
To guide the public on their investment moves, the regulatory commission stated that a list of authorized Halal Funds and other mutual funds can be found on its website.