Promiseland Building and Construction Limited has formally applied to Nigeria’s Securities and Exchange Commission (SEC) for approval to operate a crowdfunding intermediary platform. The company aims to facilitate capital formation for various real estate projects, infrastructure development, and other construction-related investments through this platform.
In a letter addressed to the SEC, Promiseland’s Chairman and CEO, Lawrence Emmanuel, emphasized the company’s dedication to regulatory compliance and transparency. The company assured the SEC that it would follow all the guidelines set forth for crowdfunding operations to ensure the protection of investors.
As part of its application, Promiseland submitted several key documents, including its certificate of incorporation, business profile, management details, audited financial statements, and bank statements, along with evidence of payment. These documents are intended to demonstrate the firm’s readiness and commitment to adhering to the necessary legal and financial frameworks.
The company expressed its anticipation for the SEC’s review and approval of its application and offered to provide any additional information or clarifications if needed. The decision will pave the way for Promiseland to move forward with launching the crowdfunding platform aimed at supporting real estate and infrastructure development in Nigeria.
SOURCE: PUNCH