Unregistered Operator – Stecs (Alausa) Multipurpose Cooperative Society

24/01/2025

SECURITIES AND EXCHANGE COMMISSION

PLOT 272 SAMUEL ADESUJO ADEMULEGUN STREET CENTRAL BUSINESS DISTRICT P.M.B 315, GARKI-ABUJA, FCT

TEL: +2342094621168-9 Email: sec@sec.gov.ng

PUBLIC NOTICE

The attention of the Securities and Exchange Commission (“the Commission”) has been drawn to the activities of Stecs (Alausa) Multipurpose Cooperative Society (popularly known as Stecs), which is engaging in capital market activities by inviting the public to invest in its Stecs Commodity Mudarabah Investment Series I.

The Commission hereby notifies the public that Stecs (Alausa) Multipurpose Cooperative Society is not registered to operate in any capacity in the Nigerian capital market. Similarly, the investment schemes promoted by the cooperative society have not been authorized by the Commission.

Accordingly, the public is advised to refrain from engaging with Stecs (Alausa) Multipurpose Cooperative Society in respect of any business pertaining or relating to the Nigerian capital market.

The Commission uses this medium to reiterate that transacting in the Nigerian capital market with unregistered and unregulated entities exposes investors to the risk of fraud and potential loss of investment.

The SEC remains committed to the protection of investors in the Nigerian capital market and is working diligently to combat the activities of illegal/unregistered entities.

For inquiries or to verify the registration status of entities offering investment opportunities in the Nigerian capital market, please contact the Commission through the following channels:

SIGNED

MANAGEMENT