By Ikugbadi Oluwasegun
The Senate has declared that the planned investigation into the operations of various Ponzi Schemes in Nigeria is not in contrast with the investigation being conducted by the Federal Government.
Recall that the Red Chamber at its Plenary on Thursday ordered the appropriate Committees to embark on the investigation of Ponzi Schemes in Nigeria in order to safeguard the populace from unnecessary exploitation.
Addressing Members of the Senate Press on the Senate decision, Senator Adetokunbo Abiru from the Lagos East Senatorial District, clarified that the investigation has nothing to do with the one directed by the Federal Government.
He debunked insinuation of double efforts on the matter noting that, while the ongoing investigation directed by the Federal Government has to with the recent Crypto Bullion Exchange (CBEX), the Public Hearing by the Senate is all encompassing as it will centre around activities of various Ponzi Schemes operators in the country.
Senator Abiru stated that the move is to protect the masses, the economy of the Country as well as set required standards for such operations.
The lawmaker solicited the support and Cooperation of all stakeholders for the success of the initiative.
