has passed for second reading a bill to repeal and re-enact the Nigerian Capital market, Investments and Securities Act.If the bill finally becomes a law, promoters could face 10 years imprisonment if convicted by the court.
To address the menace of Ponzi schemes, Mr Babangida said the bill seeks to empower the Nigerian Security and Exchange Commission to shut down such prohibited investment schemes. Speaking further, he said the bill also seeks to provide legal framework to regulate derivatives and commodities trading to deepen the Nigerian capital market and the economy.
What of Ponzi scheme presidential aspirant with football or political age?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reps propose 10-year jail for Ponzi scheme operatorsThe House of Representatives has passed for second reading, a bill seeking to regulate Ponzi and pyramid schemes as well as other forms of investments, proposing a 10-year jail term for operators. Mad house Zoo What about failed promises by government? How many years in prison!! Werey people
Source: MobilePunch - 🏆 8. / 63 Read more »
Reps propose 10-year jail for Ponzi scheme operatorsThe House of Representatives has passed for second reading, a bill seeking to regulate Ponzi and pyramid schemes as well as other forms of investments, proposing a 10-year jail term for operators. Mad house Zoo What about failed promises by government? How many years in prison!! Werey people
Source: MobilePunch - 🏆 8. / 63 Read more »
Buhari To Reps: Act On 3 Anti-corruption Bills Before YouPresident Muhammadu Buhari has urged the House of Representatives to consider and pass the Proceeds of Crime Bill, the Whistle-Blower Bill and the Witness
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Examining Stanbic IBTC’s Critical Role In Securities LendingUgo Aliogo posits that Stanbic IBTC has driven the adoption of securities lending more than any other organization in the capital market In response to the clamour for market expansion, the Nigeria…
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
What Nigerians need to consider before criticising police performance – IGPThe police and other security agencies in Nigeria have remained in the spotlight, as the security situation in the country continues to deteriorate.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Reps consider Bill to discourage NYSC members from depending on white-collar jobsA Bill for an Act to establish THE National Youth Service Corps Trust Fund (NYSCTF) has passed second reading in the House of Representatives. The Bill Madness
Source: DailyPostNGR - 🏆 11. / 59 Read more »