Promiseland Building and Construction Limited has applied to the Securities and Exchange Commission (SEC) for approval to operate as a crowdfunding intermediary in Nigeria, aiming to provide alternative financing for real estate projects, infrastructure development, and other viable construction-related investments.
In a letter addressed to the SEC and signed by its Chairman/Chief Executive Officer, Lawrence Emmanuel, the company outlined its vision to bridge the funding gap in the construction sector by leveraging crowdfunding. The platform, once approved, will enable individuals and institutional investors to pool funds for projects, creating new opportunities for capital formation in the real estate industry.
Promiseland emphasized its commitment to regulatory compliance, transparency, and investor protection, assuring the SEC that it would fully adhere to all guidelines governing crowdfunding operations in Nigeria. The firm also pledged to implement robust risk management measures to safeguard investors’ interests.
To support its application, the company submitted comprehensive documentation, including its certificate of incorporation, business profile, details of management personnel, audited financial statements, bank statements, and proof of payment for the application process.
“We look forward to the SEC’s review and approval of our application,” the letter stated. “Please do not hesitate to contact us should you require any additional information or clarifications.”
If granted approval, Promiseland’s crowdfunding platform is expected to open new funding channels for real estate developers, offering investors an opportunity to participate in profitable construction projects while boosting the overall growth of the sector.
