By Kayode Ogunwale

The Securities and Exchange Commission (SEC) has warned investing public regarding Marino FX Limited, emphasising that the company is not a registered entity with the apex regulatory body in the country.

In an official communication published on the SEC’s website, the capital market regulator specified that Marino FX Ltd is neither registered nor licensed by the SEC to conduct operations within the Nigerian capital market, including activities related to cryptocurrency exchanges.

The SEC vehemently disowned Marino FX Ltd for falsely representing itself as a licensed firm under SEC’s oversight. The regulatory authority emphasized that any assertions made by Marino FX Ltd regarding its registration or licensure by the SEC are unequivocally untrue and misleading to the public.

This official declaration serves as a cautionary alert to investors and the general public, urging them to exercise heightened vigilance and due diligence when dealing with entities claiming affiliations with regulatory bodies. It underscores the importance of verifying the legitimacy of financial service providers before engaging in any transactions to safeguard against potential fraudulent activities.

“The public is hereby advised to exercise caution and refrain from engaging with Marino FX Ltd or any of its representatives. Transacting in the Nigerian capital market with unregistered and unregulated entities exposes investors to financial risks, including fraud and the potential loss of investment.”

The commission however assured investors in the nations capital market of its protection.

The SEC remains committed to protecting investors in Nigerian Capital Market and is working diligently to curb scams and other fraudulent activities, it said.