The Financial Services Regulation Coordinating Committee (FSRCC) has issued a note of warning to Nigerians when making investments, IgbereTV reports
According to FSRCC, Nigerians must always make efforts to verify before committing money as an investment to any financial institutions
The warning is coming amid the increased report of financial losses by Nigerians through various investments.
In a statement published on CBN website on Monday, FSRCC expressed worry over the increase in the activities of Illegal Financial Operators (IFOs).
The statement noted that these activities portend a grave risk to public confidence and the stability of the Nigerian Financial System.
Part of the statement reads: “The general public is advised to 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.
