Showing posts with label SEC AND EFCC FOCUS ON NOSPECTO. Show all posts
Showing posts with label SEC AND EFCC FOCUS ON NOSPECTO. Show all posts

Monday, August 20, 2007

SEC & EFCC PROSECUTE NOSPECTO

As the days goes by, its getting more apparent that wonder banks like Nospecto Oil and Gas can’t escape the wrath of the law when Mr Musa Al-Faki (Director General of SEC) has decided to keep a keen eye on wonder banks and some stockbrokers including registrar firms.
Nospecto Oil & Gas was sourcing capital from investors without approval by SEC but even apart from these, it seems as if the business operation of the firm is no longer functional as investors are not being paid when due and false promises are given every time you visit there office also bearing in mind that their phone numbers are unavailable (a norm with wonder banks).
A joint effort is under way between SEC and EFCC to prosecute them but they informed investors in time past that they were scrutinized by EFCC on several occasions.
It has also been noted that senior officers of Nospecto Oil & Gas are no longer coming to work and divestment has been suspended till further notice. For full details, click this link to read the complete story in Vanguard Newspaper http://simurl.com/mirmur