necessary measures in place to ensure that only registered operators are allowed to operate in the capital market.The Securities and Exchange Commission (SEC) in Nigeria is taking steps to combat unregistered operators and prevent Ponzi schemes. They plan to introduce an Unstructured Supplementary Service Data (USSD) code for verification of capital market operators. This code will be available to mobile phone users and does not require internet connection. The Director General of the SEC Dr. Emomotimi Agama stated that the code will be launched at the next Capital Market Committee Meeting. This measure aims to ensure that only registered operators are allowed to operate in the capital market. It will allow Nigerians to easily verify the registration status of any potential operators and protect them from fraudulent activities.

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Link to Original Story: https://dailytrust.com/ponzi-schemes-sec-introduces-ussd-codes-to-verify-operators/