Nigeria’s Securities and Exchange Commission (SEC) has sealed up the office of fintech company Agropartnerships. SEC said the parent companies Farmforte Agro Allied Solutions Limited and Agropartnerships Technology Ltd are operating illegally and unlicensed to carry out investment related operations. “These companies do not have registration of the SEC to conduct fund management activities and have been found to promise exorbitant rates of returns to lure investors. While Agropartnerships office remains sealed, the fintech company refutes SEC’s claim that is operating illegally and unregistered with Nigerian authorities. “We remain committed to enabling progress for all in the agriculture value chain across Africa,” Agropartnerships said.

Source: The Guardian March 23, 2022 10:24 UTC