The management of Trust Bond Mortgage Bank Limited has commended the Securities and Exchange Commission on the ban of some industry operators involved in fraudulent practices.
In an exclusive interview with The Point on Thursday in Lagos, the company’s Secretary, Mr. Mark Okoye, explained that this is the time to separate the shaft from the wheat, because overtime, the retail investors had lost confidence in the market.
Okoye said, “We believe the development is a signal and warning call on all operators to begin to act as per their role and mandate in setting up their organisations.
“Custodians to retail investors investment should harp on the need to submit their annual financial account timely because this move will gradually gain back investors’ confidence in the market.”
With respect to the query on the private placement undertaken by some mortgage firms, he added that his company paid dividend to its shareholders in response to the controversy
regarding their 2006/2007 private placement undertaken by the mortgage
bank.
