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SEC Partners Attorneys-General Alliance To Combat Ponzi Frauds

The Securities and Exchange Commission (SEC) in partnership with the Attorney General Alliance Africa (AGA-Africa) will train law enforcement agencies, lawyers and the public on prevention of Ponzi scheme frauds in the country.

A statement issued by a joint committee of SEC and AGA-Africa on Sunday indicated that the two-day webinar training with the title ‘Curbing the Tide of Ponzi Schemes: The Role of the Regulator’ slated to hold from March 2-3, 2021, would be organized to educate stakeholders on the prevention and investigation of ponzi schemes.

The committee stated that the training, which would feature participants locally and internationally, had become necessary as Ponzi scheme operations were expected to become more prevalent in this era of increased use of the cyberspace occasioned by corona virus pandemic.

It clarified: “The rich sessions are designed to equip participants with knowledge and expertise required to enhance the process of preventing, investigating and prosecuting cases of Ponzi scheme in Nigeria.”

Some of the expected facilitators during the virtual session include AGA-Africa Board Member, Mr. Markus Green, Nigeria’s Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, (SAN), the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, and Director-General of SEC, Mr. Lamido Yuguda, among others.

The committee further stated that AGA’s major function at the training was to provide a forum for legal officers to cultivate knowledge, co-operate on issues of legal concerns and co-ordinate actions which improve the quality of legal services available to different institutions.

AGA promotes the rule of law and foster international co-operation in transnational criminal matters.

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