Alpha10 Unveils N28bn Investment Portfolio in Port Harcourt
Blessing Ibunge in Port Harcourt The Rivers State Government has intensified efforts to protect investors from Ponzi schemes and restore confidence in the South-South financial market, demanding greater transparency and
Rivers State Government has ramped up efforts to safeguard investors from Ponzi schemes and restore confidence in the South-South financial market. This strategy was highlighted at the unveiling of Alpha10 Fund Management Limited’s Port Harcourt office. Authorities challenged fund managers to reveal their ownership structures, investment records, assets under management, risk exposure, and corporate governance standards.
Governor Jerry Ugo emphasized that repeated losses from fraudulent investment schemes had eroded public confidence and discouraged genuine investment activities across the Niger Delta. The government seeks to differentiate credible investment operators from fraudulent promoters. Investors are urged to provide verifiable details about their operations and patronize regulated investment platforms.
The Securities and Exchange Commission (SEC) cautioned investors against promising high returns and urged them to invest in the capital market rather than roadside fund Ponzi schemes. Alpha10 Fund Management Limited, managed by Abigail Utomi, currently oversees N28 billion in assets, including N6.9 billion in public funds. The company manages three public funds and seven private investment products authorized by the SEC.
Alpha10 commenced operations in 2024 and expanded its physical presence to Abuja, Lagos, Port Harcourt, and Kano. Chairman Chibuzor Ekwekwuo highlighted that the group had achieved N6.29 billion in added value within nine months, positioning the company as one of the fastest-growing financial groups.
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