Acting Director-General of the commission, Ms Mary Uduk gave the warning at a news conference on Thursday in Abuja.
She added that they lured young Nigerians to invest as low as N1000 and N13, 000 and to get as much as eight times the value of the investment in 48 hours. “Unlike MMM that had a website and the promoter known, the people promoting Loom are not yet known and this pyramid scheme operates through closed groups mainly on Facebook and Whatsapp.
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.
Dujima Adamawa donates educational materials to Govt. Model Sec. Daura - Vanguard NewsIn a bid to promote educational excellence in Nigeria and propel the nation towards achieving the Sustainable Development Goal 4(Quality Education), the Dujima of Adamawa state Alhaji Musa Halilu Ahmed; through his foundation (Musa Halilu Ahmed Foundation) empowered no fewer than 2000 pupils and 30 teachers of Government Model Secondary School Daura, Katsina state. TheRead More
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Lawyer sues SEC, seeks stoppage of MTN listing - Vanguard NewsBy Henry Ojelu LAGOS—A Lagos-based lawyer, Dr. Charles Mekwunye has dragged the Security and Exchange Commission, SEC, before a Federal High Court sitting in Abuja seeking to stop the planned listing of MTN shares on the floor of Nigeria Stock Exchange. In the suit marked as FHC/ABJ/CS/2019, Dr Mekwunye is asking the court for aRead More
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Beware of Loom ponzi scheme, SEC warns NigeriansThe Securities and Exchange Commission (SEC) has raised the alarm over the activities of some fraudsters currently running an online investment scheme.... Provide jobs so that nigerians will no longer be scammed.
Source: TheNationNews - 🏆 6. / 69 Read more »
SEC warns Nigerians against Loom Ponzi scheme - Premium Times NigeriaAn official said the fraudsters use social media platforms like Facebook and WhatsApp to lure unsuspecting victims.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Drop Box Suspension: Ex-Perm Sec, diplomat say no implication on U.S-Nigeria relations - Vanguard NewsA retired Permanent Secretary of the Ministry of Foreign Affairs, Amb. Olukunle Bamgbose, says the indefinite suspension of the “Drop Box” policy by U.S. will not have any implication on Nigeria-U.S relations.
Source: vanguardngrnews - 🏆 5. / 75 Read more »
'Loom Money' is Ponzi Scheme, SEC Warns - THISDAYLIVEBy Ndubuisi Francis in Abuja The Securities and Exchange Commission (SEC) has expressed concern over the activities of some online scammers, currently running an online investment scheme tagged ‘Loom Money Nigeria’. The target of Loom Money are young people, which the scheme does through the social media, luring them to participate in a pyramid arrangement. …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
‘Loom Money Nigeria’ is a fraudulent scheme, SEC warnsThey'll still not listen.... Which one is Loom money again ? Over my dead body
Source: MobilePunch - 🏆 8. / 63 Read more »
Perm Sec Call For Efficient Service Delivery In Agric MinistryThe Permanent Secretary, Ministry of Agriculture and Rural Development, Dr Muhammed Bello Umar, have tasked staff of the Ministry to see their employment as an opportunity to contribute to the mandate of optimising agriculture and integrating rural development for the transformation of the Nigerian economy. Dr Umar who made the call during the 2nd Edition […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
SEC Moves to Ban Companies from Distributing Gifts at Meetings - THISDAYLIVEGoddy Egene The Securities and Exchange Commission (SEC) is making move to stop listed companies from distributing gift items at annual general meetings (AGMs). The capital market regulator is also ensuring that quoted companies do not convene any meeting with select group(s) of shareholders prior to an AGMs or an extra-ordinary general meetings(EGMs). These move by …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Perm Sec Calls For Efficient Service Delivery In Agric MinistryThe permanent secretary, Ministry of Agriculture and Rural Development, Dr Muhammed Bello Umar, ham tasked staff of the inistry to see their employment as an opportunity to contribute to the mandate of of optimising agriculture and integrating rural development for the transformation of the Nigerian economy. Dr Umar who made the call during the 2nd […]
Source: LeadershipNGA - 🏆 4. / 77 Read more »
SEC moves to ban gift items during AGMs – Daily TrustThe Securities and Exchange Commission (SEC) is seeking to create a sub rule to regulate the conduct of Annual General Meetings (AGMs). SEC said in a statement this is to ensure that investors get more value for their investments.ADVERTISEMENT The statement said this is among many proposed regulations contained in a draft Exposure of Sundry …
Source: Daily Trust - 🏆 13. / 51 Read more »