INVESTORS PROTECTION FUND: COMPLAINANTS HAVE TWO TO GO

Those 580 investors who lodged formal complaints with the Securities and Exchange Commission against Mega Asset Managers Ltd have two days left to verify their claims for payment.
The investors had earlier appeared before the SEC Administrative Proceedings committee to  prove their claims against Mega Asset managers for fraudulent conversion of clients funds and other violations of the Investment and Securities Act (ISA) 2007 and SEC's rules and regulations.
Subsequently, it was decided that the complainants be compensated  and were thus asked to contact SEC zonal offices with proof of identification account details and Bank Verification Number (BVN) by December 23 this year.
Curiously, about 162 out of the beneficiaries did not provide any address or contact phone number, and a couple gave only phone number.
The majority, from their given addresses, were from Onitsha Anambra state and its environs. About 29 of them were from Lagos but mostly care a firm, M. O Chukwuma Okafor Associates except one from Aguda Surulere.
There were also two Asaba Delta state addresses on the list released by SEC as well a couple from Port Harcourt, Rivers State.
Apparently this was the first formal act of protection since the National Investors Protection Fund was inaugurated on November 26, this year.
The notice asking the affected 580 investors to verify their accounts was pasted on SEC's website on December 16, thus giving them one week within which to clear this last hurdle.

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