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EFCC Cautions Nigerians Against Bitcoin, Forex Trading, Others

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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.

The post EFCC Cautions Nigerians Against Bitcoin, Forex Trading, Others appeared first on .

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