Risevest, a popular investment platform, has responded to a recent warning issued by the Nigerian Securities and Exchange Commission (SEC). The warning claimed that one of Risevest’s subsidiaries, Risevest Cooperative Multipurpose Society Limited, is not “authorised to operate within the Nigerian capital market.”
In a statement sent to its customers via email on Sunday, Risevest explained the legal status of its operations. The company said Risevest Cooperative Society is registered under the Cooperative Society Laws of Lagos State with Registration No. 17080. It also mentioned that its Nigerian operations are supported by Meristem Trustees Limited, a company licensed by the SEC, and Chaka Technologies Limited, an SEC-licensed digital sub-broker.
Read Also: SEC warns Nigerians against unregistered investment platforms
“These structures empower us to manage and invest our users’ funds in both local and global markets,” the company said. “We have always operated in line with guidelines established by regulators to safeguard consumers.”
Risevest also said it has contacted the SEC to understand the concerns raised in the warning. The company assured its users that all its services are working as usual.
“We are committed to delivering investment opportunities in a safe, compliant, and beneficial manner,” the statement continued. “Our mission to connect users to the best wealth opportunities locally and globally remains unwavering.”
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