The attention of the Commission was drawn to the proposed launch of a Crowdyvest Halal Fund by Crowdyvest an unregistered entity purporting to operate as a corporative society.

The SEC said it has since issued a “Cease and Desist” Order to Crowdyvest to stop the launch and operations of the Crowdyvest Halal Fund and any other investment activity which involves soliciting investments and deposits from the public.

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The general public is hereby put on notice and reminded to confirm and verify the registration status of entities offering investment product with the Commission and entities offering savings products with the Central Bank of Nigeria.