The commission added that Risevest and Stecs are not legally known by the SEC.
He urged all participants in the market to play by the rules.
The circular said the platforms were not registered by the SEC, and the financial services offered by them were also not authorised.
The SEC noted that companies that want to apply and participate in the RI Programme would meet five eligibility criteria.
Mr Yuguda said the commission had been fighting a serious war against Ponzi schemes where people without licenses extort money from unsuspected victims.
Mr Yuguda said the commission had been fighting a serious war against Ponzi schemes where people without licenses extort money from unsuspected victims.
Mr Yuguda said unclaimed dividends as of 2021 stood at N177 billion, which was higher than the 2020 figure of N168 billion.
The call was in line with the gazette released by the federal government proscribing the activities of bandits, terrorists and kidnappers.
The virtual discussion will hold at the third Capital Market Committee (CMC) meeting scheduled for November 11 and 12.
