IG Deploys Anti-fraud Police To SEC Headquarters

The Inspector General of Police, Mr Mohammed Abubakar, has deployed 15 policemen to the newly established police unit at the headquarters of the Securities and Exchange Commission (SEC) in Abuja.

Abubakar said in Abuja that the officers were expected to assist the commission to monitor, detect and prevent fraud and enforce capital market laws.

The police contingent is to be led by a Chief Superintendent of Police, Mr Babakura Mohammed.

Abubakar said that no nation would develop without security of lives and property, adding that the era when anybody could perpetrate fraud and go scot-free was over.

“We can no long fold our arms and allow criminals to do what they want to do in terms of stock or shares or any act of criminality. Those who are in the habit of committing fraud should know that their time is over.

“They just have two options: either change and become responsible citizen or be caught in the act and face the consequences,’’ he said.

The police chief said that the police were willing to partner with the commission in the discharge of the commission’s responsibilities.

He said the officers deployed to SEC had the required technical know-how in investigation and prosecution of fraud cases.

“Some of them had served in the Economic and Financial Crimes Commission (EFCC), some of them had attended fraud and fraud-related courses which we believe can give them the basic knowledge,’’ he said.

He charged the officers to be firm but fair in the discharge of their duties and to also be good ambassadors of the force.

Ms Arunma Oteh, the Director General of SEC, said that in spite of the successes the commission had recorded in the fight against fraudulent practices in the capital market, there were still illegal activities and abuses.

Oteh expressed optimism that the partnership with the police would help in tackling illegalities at the capital market.

She said that the police officers would be exposed to further training locally and internationally to enable them to have a deeper understanding of capital market laws.