A Nigerian Diaspora investor, Rev. Fr. Samuel Ikechukwu Ukeje, whose shares were sold by a stock broker in Nigeria has received the value of his shares, even as he called for strict sanction on the broker to deter others.

 

Rev. Fr. Ukeje received a cheque in the sum of N1.5m for his share that were illegally sold. Ukeje, an Italian resident said that he bought the Guaranty Trust Bank shares eight years ago through Cashville Investment and Securities Limited but was surprised to learn that the shares had been sold by the company without his knowledge.

The recovery gives a boost to the Investor protection initiatives by the Securities and Exchange Commission (SEC).

SEC in a statement made available to newsmen said that the investor further revealed that he became suspicious and apprehensive when he was not receiving any dividend warrant nor bonuses like others who invested in the same bank shares.

He revealed that his investigations later unveiled that the shares had been sold without his permission or knowledge.

The complainant said he lodged a complaint with SEC in January 2015 and after thorough investigation by the Commission, and following committed effort by the commission, the money was recovered and he was called by the SEC police Unit on January 4th 2017 to pick up his cheque.

Although he is happy with the efforts by the commission and commended them for their investor protection initiatives, he wants the company to be further penalized to serve as deterrent to others.

 

” I believe the company should be penalized further because the value of my money when I bought the shares and what it is today is not the same thing as the nation’s currency has greatly depreciated” Reverend Ukeje said, even as he expressed gratitude to the Commission for its timely intervention.

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