The Commission has observed with great concern, the recent waive of private placements by some private companies. These companies are offering their shares to raise money from unsuspecting members of the public.

The public is hereby notified that the securities of private companies are not registered with the Commission.

However, any company that has membership in excess of 50 persons is by law a public company and is therefore required to comply with the requirements of the Commission in terms of making offers to the public and the registration of its securities.

Members of the public who buy shares of private companies, that are neither registered by the Commission nor listed on the Nigerian Stock Exchange (NSE), are therefore doing so at their own risk.

The SEC is committed to effectively regulating and developing the Nigerian Capital Market to make it investor friendly.

Signed
Management