bjtinz:
Sigh. All these illiterates sef.

99% of all comments have no idea of what the story is about. Everyone just bleating about ponzi and the like. SMH

lkillbrokehoes:
Honestly anyone that still falls for pyramid schemes or any other money doubling investment should have him/herself to blame, the thing is that Nigerians are naturally gullible and greedy, they want to make quick money that's why they fall into this kind of scams and SEC isn't doing the right thing to curb these fraudsters.

studentofTruth:


It's a pity that some people think that the NSEC is addressing Ponzi scheme platforms with this statement.

Actually, in this statement, NSEC is attacking the likes of Trove, Bamboo, and Chaka, which are platforms one can use to invest in foreign stocks from Nigeria.

It seems these big boys that have rendered the NSE a pump and dump exchange are pressuring NSEC to prevent Nigerians from investing in foreign stocks so that they can have enough capital on the NSE for their schemes. They have noticed that Nigerians are leaving their fraud-laden NSE for them.

You see why I need to leave this country that is always trying to cage us.

brandmix:


So the real question is what does on do?

On one hand the US economy just took an upward turn, and the stock market is promising...on the other hand Nigerian govemt is closing in with a kiss of death as they do to all start ups

Someone7:
This is a symptom of the wider unemployment issue in Nigeria under this clueless administration. People are literally trying to survive on their own. What do they expect?

bjtinz:
Sigh. All these illiterates sef.

99% of all comments have no idea of what the story is about. Everyone just bleating about ponzi and the like. SMH

lkillbrokehoes:
Honestly anyone that still falls for pyramid schemes or any other money doubling investment should have him/herself to blame, the thing is that Nigerians are naturally gullible and greedy, they want to make quick money that's why they fall into this kind of scams and SEC isn't doing the right thing to curb these fraudsters.

ezef2k4:
Chaka, Trove and Bamboo are CSCS certified for stocks listed in the NSE and they have foreign trade partners duly licensed for trade in foreign stocks. I do hope SEC backs down on this. Why is this country hell bent on producing poor citizens.
#sighs#

A quick response from Bamboo is attached.

Mrquote:

Am telling you, most people here don't read.

ezef2k4:
Chaka, Trove and Bamboo are CSCS certified for stocks listed in the NSE and they have foreign trade partners duly licensed for trade in foreign stocks. I do hope SEC backs down on this. Why is this country hell bent on producing poor citizens.
#sighs#

A quick response from Bamboo is attached.

JubrinElSudan:
No matter how good a trader is, once he starts collecting money from investors to trade and pay them percentage , he will really crash. We dey solve one matter like that for one WhatsApp group. All of a sudden Oga send investors sms say CBN ban on crypto-related bank transactions go affect payment for that month, na from one police case to another he dey enter from investors wey invest millions millions with am. If you Sabi trade forex, just trade on your own with your own money, if you make $10k , you know say na your money, no pressure whatsoever

studentofTruth:


It's a pity that some people think that the NSEC is addressing Ponzi scheme platforms with this statement.

Actually, in this statement, NSEC is attacking the likes of Trove, Bamboo, and Chaka, which are platforms one can use to invest in foreign stocks from Nigeria.

It seems these big boys that have rendered the NSE a pump and dump exchange are pressuring NSEC to prevent Nigerians from investing in foreign stocks so that they will have no option than to bring their money to the NSE, offering them more money for their schemes. They have noticed that Nigerians are leaving their fraud-laden NSE for them.


You see why I need to leave this country that is always trying to cage us.

chrisxxx:
I wish I listened when they warned against MBA.

lanre88:
Dont loose cash to ponzi schemes, let us show you something helping people live a good life.

A word is enough...

deenee:


Point of correction, the trio of Trove, Chaka and Bamboo are not licensed capital market operators (CMO) and only act as intermediaries. This is why your NGN stock purchases are routed though a duly licensed stock broker and they charge you a fee for using their platform and share commission with their partners when you trade.

For ease of simple analysis, they are like the ubiquitous POS agents we see all around that carry out banking transactions on behalf of banks for a fee but are not duly licensed.

I think this will create an opportunity to even review the archaic SEC law to reflect the developments in the capital market.

studentofTruth:


It's a pity that some people think that the NSEC is addressing Ponzi scheme platforms with this statement.

Actually, in this statement, NSEC is attacking the likes of Trove, Bamboo, and Chaka, which are platforms one can use to invest in foreign stocks from Nigeria.

It seems these big boys that have rendered the NSE a pump and dump exchange are pressuring NSEC to prevent Nigerians from investing in foreign stocks so that they will have no option than to bring their money to the NSE, offering them more money for their schemes. They have noticed that Nigerians are leaving their fraud-laden NSE for them.


You see why I need to leave this country that is always trying to cage us.

Aderupoko2:
SEC and their backward thinking. When you won't list all quoted companies online or launch an app for Nigerians to trade in Nigerian Stocks. You still use Stockbrokers and moribund clearing house methods.
The youths are tired of this paper and analogue thinking.

deenee:


How exactly are they trying to survive? By been greedy and putting their hard earned money in ponzi schemes where there is no underlying economic activity.

Somebody is promising you 35% ROI on a monthly basis with no economic activity and y'all jump on it. If it was that easy, they won't be online trying to scam people. Our short cut mentality is the really we keep running round in circles with no meaningful development.

Una never start. I hear somebody invested over 500m naira in one of the online schemes before it went bust, with the promise that they would be paid 40% ROI monthly and after 12 months, principal will be returned. That's a 480% ROI or
N2.4 billion naira return in 1 year and this does not include principal. There is absolutely no business that can generate that kind of return in this prevailing economy. PROVERBS 21:20

I rest my case

deenee:


Yes alot didn't read as the announcement is targeted at the online investment platforms that allows Nigerians to trade and invest in US, Nigerian, and Chinese stocks online from the comfort of their mobile device.

But also this presents a good opportunity to still create awareness about the online ponzi schemes too

lkillbrokehoes:
Honestly anyone that still falls for pyramid schemes or any other money doubling investment should have him/herself to blame, the thing is that Nigerians are naturally gullible and greedy, they want to make quick money that's why they fall into this kind of scams and SEC isn't doing the right thing to curb these fraudsters.

OjukuwuHusband:
Half of most people reading the thread don't even understand what's playing.....
.these fvckers are always uncomfortable when smart young guys are making money from something they can't control or regulate...quota system doesn't apply to the international stock market thus the aboki government must move to ban it...from the ban on crypto to witchhunting of tech companies it's obvious that the aboki government is hell bent on making the youths poor and subservient. Unfortunately you can't ban the cyber space, we have VPN.....Yoruba tech bros should better get a second citizenship from benin republic....this fvckers plan to take us to the stone age....

Mrquote:

Am telling you, most people here don't read.