Stop dealings with illegal financial operators, FSRCC warns

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CBN wins 33rd edition of financial institutions football competition

CBN wins 33rd edition of financial institutions football competition

By Elizabeth Adegbesan

The Financial Services Regulation Coordinating Committee (FSRCC) has warned the general public to desist from dealings with illegal financial institutions in the country who lures and defraud them.

The committee also advised members of the public to visit the websites of CBN, Securities and Exchange Commission (SEC) and other relevant member agencies of the FSRCC to verify the registration and license status of such companies and schemes before investing in them.

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The committee gave this warning in a statement released today on the Central Bank of Nigeria’s (CBN) website.

The circular stated: “The FSRCC wishes to draw the attention of the general public to the worrisome increase in the activities of the Illegal Financial Operators (IFOs) which portends grave risk to public confidence and the stability of the Nigerian Financial System.

“The FSRCC in its…



Source: Vanguard Newspaper