Chaka Technologies Limited, a fintech company, has reassured investors on the safety of their investments following an interim order granted by the Investment and Securities Tribunal (ISL) to restrict the company and its promoters from advertising and offering for sale, shares, stock or other securities of Nigerian Stock Exchange (NSE)-listed companies.
In a statement signed by Co-founder and Chief Executive Officer (CEO), Tosin Osibodu, the company explained that although no formal order from the Nigerian Securities Exchange Commission (SEC) has been received, it reassures investors that it had conducted its operations in accordance with the law. x
“We only learned about SEC’s position today and while we await receiving the formal order from SEC, please note that your investments were placed by a duly licensed entity and remain safe through Citi Investments (using the Chaka platform), and will continue to be custodied by an SEC-regulated br
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Chaka responds to SEC s order, says investors funds safe
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Once more, economists and financial market analysts have lamented the low level of non-oil revenue in the country.
In view of this, analysts have urged governments at all levels to increase the non-oil revenue required for economic stabilisation and growth.
The experts gave this advice at the first Central Securities Clearing System’s (CSCS’) annual economic outlook for 2015 titled: “Nigeria: Which Way Forward,” which held in Lagos at the weekend.
Chief Executive Officer, Economic Associates, Ayo Teriba, harped on the need for the federal government to raise the value-added tax (VAT) rate as one of the measures to cushion the effect of the falling oil prices on the economy.