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The Securities and Exchange Commission (SEC) in collaboration with the Office of Attorney General of the Federation and AGA-AFRICA is set to curb the activities of Ponzi Scheme operators in the country.

Towards this end, the Commission is organizing a 2-day webinar on the of 2nd of March, 2021 with the theme “Curbing the Tide of Ponzi Schemes: The Role of the Regulator”, according to a statement by SEC Head of Public Communication, Mrs Efe Ebelo in Abuja on Sunday.

The statement explained that the webinar is targeted at the regulatory agencies, law officers, compliance officers, judges, lawyers, legislators, capital market, government officials and the public.

According to the statement, about 140 in-venue participants are expected at three venues where the webinar will be streamed live with appropriate social distancing measures enforced for the safety of the participants, adding that other online participants will be able to join through GoTo Meeting webinar platform.

“The objective of the symposium is to achieve capacity building from the thought provoking discussions amongst law officers, law enforcement agencies, the judiciary, lawyers and the public in order to better educate and train them on the different types of Ponzi Schemes, the prevention and investigation of Ponzi Schemes Fraud which is expected to become prevalent in this era of increased use of the cyberspace occasioned by the social distancing measures promoted to curb the spread of the corona virus pandemic.

“The rich sessions are designed to equip participants with knowledge and expertise required to enhance the process of preventing, investigating and prosecuting cases of ponzi scheme fraud in Nigeria”, the statement added.

Guests expected at the event are, Mr. Markus Green ESQ, AGA-Africa Board Member, Abubakar Malami, Attorney General of the Federation & Minister of Justice, Mrs. Zainab Shamsuna Ahmed, Minister of Finance, Budget & National Planning and Mr. Lamido Yuguda, Director-General of the SEC, while Dr Jean Phillipo of Malawi, Mr. Terry Davis and Mr. James Manyonge will serve as facilitators with Mrs. Ebelechukwu Enedah as Moderator.


Speakers include, Barr. Musa Abdullahi Lawan, the Attorney General & Commissioner for Justice, Kano State, Chief Anthony Idigbe, Senior Partner, PUNUKA Attorneys & Solicitors and Prof. Moin A. Yahya, University of Alberta.

Other speakers are Prof. David C. Blake, General Counsel AGA, USAT, Ms. Letitia “Tish” James, Attorney General for the State of New York, Mrs Tope Omojokun, President of Fund Managers Association of Nigeria and Prof. Marie Springer, John Jay College of Criminal Justice.

The objective of the symposium is to achieve capacity building from the thought provoking discussions amongst law officers, law enforcement agencies, the judiciary, lawyers and the public in order to better educate and train them on the different types of Ponzi Schemes, the prevention and investigation of Ponzi Schemes Fraud which is expected to become prevalent in this era of increased use of the cyberspace occasioned by the social distancing measures promoted to curb the spread of the corona virus pandemic.

The rich sessions are designed to equip participants with knowledge and expertise required to enhance the process of preventing, investigating and prosecuting cases of ponzi scheme fraud in Nigeria.

The SEC is the apex regulatory organization for the Nigerian capital market and the Investment and Securities Act mandates the Commission regulate investment schemes in whatever form and act in the public interest having regard to the protection of investors and maintenance of a fair and orderly market. It also empowered to promote investors’ education, investigate, and penalize any entity in violation of the Act and it is believed that the online webinar would serve as a platform to assist the Commission achieve one of its core mandate.

Based in the United States, AGA’s major function is to provide a forum for legal officers to cultivate knowledge, co-operate on issues of legal concerns and co-ordinate actions which improve the quality of legal services available to different institutions. AGA works ceaselessly to promote the rule of law and foster international co-operation in transnational criminal matters.

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