SEC Commences Verification of Dantata Success

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Ndubuisi Francis in Abuja

The Securities and Exchange Commission (SEC) has concluded plans to commence a verification exercise for Nigerians who “invested” monies with Dantata Success and Profitable Company, Kano.

According to the SEC, as part of the arrangements to commence a refund of their monies, the verification exercise will take place between May 31 and June 2 , to ascertain the level of their commitment to the company.

In a statement, SEC said: “the Commission wishes to inform and reassure investors in Dantata Success and Profitable Company that it is finalising plans for the repayment of investors’ funds (from assets so far being recovered from the company)”

The “investors” are required to go along with the following documents: original receipt evidencing their payment or bank teller for deposit into the company’s account; valid means of identification (voters card, National Driving License, National Identity Card, international Passport etc) and investors bank account details.

Pursuant to its powers under Section 13(w) of the Investments and Securities Act 2007, SEC had on February 6, 2019 sealed up the business premises of Dantata Success and Profitable Company (DSPC).

The company had been involved in unlawful solicitation of funds from the public with a promise of inexplicable high returns to investors. The action taken by the Commission was with a view to protecting investors.

The commission further warned the public to exercise utmost caution before subscribing to investment schemes by confirming the registration status of any company or individual and the investment products they are offering before entering into any transaction with them.