Following the verification of claims, the management of the Securities and Exchange Commission (SEC) says it is engaging stakeholders of the defunct Dantata Success and Profitable Company with a view to settling claims of subscribers.
In a statement by Efe Ebelo, its spokesperson, the commission urged those who subscribed to the schemes to remain calm, assuring that it “remains committed to its core mandate of protecting investors and assures the general public that it shall perform this function in line with extant securities legislation.”
The commission noted that information about registered entities and investment schemes it approved can be found on its website or at any of the Commission’s offices
“Further information on progress being made will be communicated to the public” the statement added.
Recall that the SEC had sealed the premises of DSPC for engaging in illegal capital market activities. Dantata Success reportedly solicited funds from unsuspecting members of the public and did not register with the commission before going into investment operations that fall within the purview of fund management.
It sold registration forms to prospective investors according to their investment plans, ranging from N1,000 to N3,000, with the minimum amount investable being N50,000 and a maximum amount of N5m, luring unsuspecting investors with returns of monthly interest on the investment of between 25 and 50%, depending on the nature and type of the investment. The investment period of the scheme was pegged at a minimum of 30 working days and a maximum of 12 months with an offer of interest rates on a short and medium-term basis.
In one of its numerous notices, the company, which claimed to be involved in trading, general merchandise supply, oil and gas, transportation, import, export, and general contract, directed all prospective customers to make deposits into designated bank accounts.