The Securities and Exchange Commission in its resolve to rid the nation of Ponzi Schemes has concluded plans to commence a verification exercise for Nigerians who “invested” monies with Dantata Success and Profitable Company, Kano.

According to the SEC, as part of the arrangements to commence a refund of their monies, the verification exercise will take place  from Friday May 31st to Sunday June 2 from 9am to 4pm daily,  to ascertain the level of their commitment to the company.

The Commission wishes to inform and reassure investors in Dantata Success and Profitable Company that it is finalizing plans for the repayment of investors’ funds (from assets so far being   recovered from the company).

The “investors” are required to go along with the following documents: original receipt evidencing their payment or bank teller for deposit into the company’s account; valid means of identification (voters card, National Driving License, National Identity Card, international Passport etc) and investors bank account details. 

Recall that The Securities and Exchange Commission (the Commission), pursuant to its powers under section 13(w) of the Investments and Securities Act 2007, on 6th February 2019 sealed up the business premises of Dantata Success and Profitable Company (DSPC).

The company had been involved in unlawful solicitation of funds from the public with a promise of inexplicable high returns to investors. The action taken by the Commission was with a view to protecting investors.

The Commission further warns the public to exercise utmost caution before subscribing to investment schemes by confirming the registration status of any company or individual and the investment products they are offering before entering into any transaction with them.

Information about entities registered by the Commission to provide investment services can be found on the Commissions website www.sec.gov.ng or at any of the Commission’s offices.