Federal Government has warned Nigerians not to patronize illegal financial institutions that now prevalent in the country.
The warning by the Federal Government is coming on the heels of a yet to be ascertained number of Nigerians that have fallen victims to the pranks of these illegal financial institutions springing up virtually everyday across the country.
The Financial Services Regulation and Coordinating Committee (FSRCC) in collaboration with the National Broadcasting Commission (NBC), in a public advisory obtained by Maritime Bits said the increase in the activities of Illegal Financial Operators (IFOS) is worrisome.
Its words: “The Financial Services Regulation and Coordinating Committee (FSRCC) in collaboration with National Broadcasting Commission (NBC) wishes to draw the attention of the public to the worrisome increase in the activities of Illegal Financial Operators (IFOS) which portends grave risk to the public confidence and stability of the Nigerian Financial System. The FSRCC and NBC in their continuing efforts to end the scourge of IFOs in Nigeria hereby issue the following advisory to the general public. Refrain from dealing with unlicensed or illegal financial operators, who lure and defraud unsuspecting members of the public by offering extra- ordinary returns on investments as bait.
“Verify the licensing status of such companies and schemes on the following websites before investing in them: CBN: https://www.cbn.gov.ng, NAICOM: https://naicom.gov.ng c. PenCom: https://www.pencom.gov.ng EC: https://sec.gov.ng
“Consequently, the Public is advised to report any individual or entities suspected to be involved in such nefarious activities to Law enforcement agencies. And Call: tolled line: 0700-225-5226; Toll-Free Line: 0800-225-5226. FSRCC Direct Line: +234-817-665-6273. Member agencies will continue to engage in regular sensitization campaigns on the threats posed by the activities of Illegal Financial Operators.”