THE apex regulator of the Nigerian capital market, Securities and Exchange Commission (SEC), on Tuesday shut down the operations and sealed – up the offices of of an illegal and unlicensed capital market operator in the city, Royal Benchmark Limited, at Ademiluyi close, Bodija, Ibadan. According to Assistant Director Enforcement department of the commission, Ben Ebe, the action was carried out following a tip off by one of the victims of the illegal firm. He further informed that this was happening only a few days after the SEC took a similar action against another illegal operator based simultaneously in Port Harcourt and Sokoto and on the heels of earlier enforcement actions taken in Lagos and Jos against unregistered and unlawful operators in the course of 2013.

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Accroding to Ebe, “the build up to the enforcement action against Benchmark Nigeria Limited happened by way of reports to the SEC by victims that one Ade Adesina who purported to be the Managing Director / CEO of Royal Benchmark Limited of No. 11, Ademiluyi Close by Bovas Filling Station, Kongi Street, Bodija, Ibadan, Oyo State was collecting monies in various sums from unsuspecting members of the public under the pretence that same monies were being invested in the Capital market.

“Subsequent thorough investigations conducted by the Commission showed that neither Ade Adesina nor Royal Benchmark Limited was registered to perform any function in the capital market. Their operations therefore ran counter to the prescriptions of the extant law governing operation in the capital market,” Ebe noted.

http://whatsupibadan.com/2013/11/14/sec-seals-illegal-capital-market-operator-in-ibadan/

These people should be in jail. I don't know why greed has taken the hearts of people that they will do anything and tell whatever lie