SIX ILLICIT ONLINE TRADING SITES HAVE BEEN BLACKLISTED BY THE SEC

The Securities and Exchange Commission, a federal government agency, has blacklisted six internet trading businesses as part of its recent crackdown on unregistered and illegal companies claiming to provide investing and finance services or products.

In a statement issued on Monday, the Commission emphasized that the prohibited firms were unregistered but not unlicensed to provide such investment services.

The Commission cautioned the public to exercise caution when dealing with embargoed firms.

The Commission had cautioned the public not to patronize a group of companies that had been barred from doing business by Italy's securities regulator, the Commissione Nazionale per le Soecieta' e la Borsa.

"The Commission's attention has been drawn to the under-listed e-commerce companies and their websites offering online trading platforms to the investing public. The SEC Nigeria does not register them, and their financial services are also not authorised.

"The blacklisted firms: Prime Invest and "Primeinv.co, FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC and Trust Fund Mining Global Pty Limited," the statement partly reads.