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Piggyvest reply tori say dem lose billions inside alleged financial scam – BBC News


Wia dis foto come from, Getty Images

Piggyvest don deny say dem lose N2 billion to financial scam.

Dis na afta reports bin comot say one lending company, Imagine Global Solution Limited bin allegedly scam Piggyvest.

Tori wey dey make di rounds on di internet be say di financial outfit- PiggyVest- plus oda top organisations for Nigeria bin invest money for di micro-lending company, Imagine Global Solution Limited.

PiggyVest come out tok for statement assure dia users say dem no go eva compromise dia funds and ask dem to disregard any information.

“Dem don draw our attention to some rumours wey dey make rounds about Piggyvest.

Please note say Piggyvest no go ever compromise the funds of any user in any way.

Wia dis foto come from, PiggyVest

All Piggyvest user funds remain safe and secure as always. No user fund don experience any loss of any kind, and dem no go experience anything like dat”, Piggy Vest tok.

Di owners of Imagine Lenders, one couple dey face allegations say dem dey on di run wit billions of Naira for investors’ funds.

Di whistleblower on Instagram, @_trapselena_ allege say di couple operate di micro-lending platform for small and medium-scale traders wia dem dey lend to traders at 22 percent interest den return 10 percent of di profit to investors monthly.

“Total exposure from pipo wey we know dey currently to di tune of 22 billion Naira and more pipo still dey come out,” na so di accusation read.

Dem also tok say dem don dey make moves to involve di Economic Financial Crimes Commission , EFCC and Interpol in locating di couple.

BBC Pidgin neva fit confam if true-true di couple wey be di alleged owners of di company get hand for di alleged financial scam.

We don reach out to Nigeria corruption police EFCC but never get response yet.

‘Rise in investment scams’

For one statement wey tori pipo for the cable publish for April 2021, Wilson Uwujaren, EFCC tok-tok pein, lament say citizens dey lose dia hard-earned money to Ponzi schemes, forex trading and fraudulent investments wey dey promise a high return wih little risk to investors.

According to am, di trend indicate say investment scams continue to thrive despite di enforcement and public enlightenment interventions by di commission and other stakeholders.

Earlier in di year also, di Securities and Exchange Commission SEC Nigeria bin advise Nigerians on how to sabi if any investment scheme na fake

Head of Investigation and Enforcement of di Security and Exchange Commission, Port Harcourt Branch, Enebeli Sussy Sulukwe advise pipo wey wan do any investment with any company to do dia due diligence, shine and chook dia eye well-well to investigate, see weda dat market operator dey genuine and proper before dem make any move.

She advise pipo to first of all visit di SEC website for and check under di heading ‘illegal capital market operators.’ Dia, dem go find di names of all di companies wey dey do ponzi schemes wey dem don list for dia and wey dem list as illegal market operators because, “na di responsibility of evri investor to do dia due diligence on weda or not dis schemes dem actually dey registered as dem claim to be.”

How to check weda dat scheme na fake/ponzi scheme

Pesin fit search di search bar for di website for unlawful market operators to see if di company dey among those wey dey di list and/or check dia FAQ section for answers.

SEC say before you invest:

Understand di nature of di investment

Which type of business di scheme dey into

Check if di product it service di company wan sell dey genuine or tangible

Check weda di rate of returns dey sustainable. Also check if e dey lower or higher than CBN Monetary Policy Rate of 14%.

But avoid any investment you no understand.

To know di registration status of di investment company and promoters SEC say make you:

Ask for evidence of incorporation wit Corporate Affairs Commission and registration with Securities and Exchange Commission.

Contact SEC by email for or call di commission number on 09-4621168 to confirm di firm registration status.

If di investment no dey registered by SEC, e no dey advisable to venture into am because, “na di responsibility of evri investor to do dia due diligence on weda or not dis schemes dem actually dey registered as dem claim to be.” Di SEC oga tok.

Read More : Piggyvest reply tori say dem lose billions inside alleged financial scam – BBC News

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