SEC warns Nigerians against Voya Investment Management platform
The Securities and Exchange Commission has warned the public against engaging in business with Voya Investment Management, an online investment platform.
As per the SEC, the company operates via the website investmemts.voya.com.
In a notice released on Wednesday, the commission indicated that Voya’s assertions of being licensed or regulated by the SEC are inaccurate and misleading.
“The individuals behind this platform claim to provide investment services in Nigerian stocks and other financial instruments allegedly under the oversight of the Commission.
“Voya Investment Management is also displaying a certificate of identity verification reportedly issued by the Commission.
“The Commission hereby informs the public that Voya Investment Management (VIM) is NOT REGISTERED or authorized by the Commission to engage in any activity within the Nigerian capital market.
“The certificate being shown by Voya Investment Management was neither issued nor approved by the SEC, Nigeria, as the Commission does not provide certificates of identity verification.
“Additionally, VIM's assertions that it is supervised, licensed, or approved by the Commission to carry out operations in the capital market are false, misleading, and fraudulent,” the commission stated.
The SEC indicated that complaints regarding VIM’s activities suggest the firm is operating an illegal investment scheme that could deceive unsuspecting members of the public, particularly through misleading claims of regulatory endorsement.
“Therefore, the public is advised to avoid any dealings with Voya Investment Management (VIM), as any individual who interacts with the company or its representatives does so at their own risk,” the commission emphasized.
The SEC also encouraged investors to verify the registration status of companies on its portal at www.sec.gov.ng/cmos prior to making any investments, cautioning that dealing with unregistered entities poses substantial financial risks, including fraud and potential loss of funds.
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