SEC shuts down Nyak-City Hostels over unlicensed investment scheme

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The Securities and Exchange Commission (SEC) has shut down Nyak-City Hostels Limited for offering investment products to the public without the required licence. The company, which was incorporated in 2025 by the Registrar of Companies, is an unlicensed asset-backed investment company. Nyak-City Hostels Limited operates an investment product known as “Treasury Hostel Investment”, which it […]