SEC shuts down Nyak-City Hostels over unlicensed investment scheme

The Securities and Exchange Commission (SEC) has shut down Nyak-City Hostels Limited for offering investment products to the public without the required licence.

Speaking to the media during the shutdown of the facility, Deputy Director General of the SEC, Mensah Thompson, said the Commission remains committed to sanitising the investment sector and protecting the renewed confidence in Ghana’s financial industry.

The SEC says it will continue to take action against unlicensed investment operators as part of efforts to protect investors and safeguard confidence in Ghana’s financial sector.