EFCC Warns Nigerians Against Bitcoin, Forex Trading, Others
The Economic and Financial Crimes Commission (EFCC) has warned Nigerians against what it described as any investment that promises returns that looks too good to be true.
“Though risk-taking is considered by some as the oxygen that drives investment decisions, the commission warns the public against taking unmitigated risk in desperation to earn a windfall.
“Investment in Bitcoin, for instance, is a high risk activity as the terrain is largely unregulated, and prone to fraud,” the anti-graft agency said.
EFCC spokesman, Wilson Uwujaren, who gave the warning in Abuja, said the commission was alarmed at the rate Nigerians send petitions to the anti-corruption agency on fraudulent investments that promise high return with little risks to investors.