THE Securities and Exchange Commission has raised concerns over the growing spread of unregistered online investment schemes being promoted across social media platforms such as WhatsApp, Instagram, Telegram, Facebook, TikTok, and other digital channels.
In a statement released today, the Commission said many of these schemes display the typical features of Ponzi or prohibited investment operations.
It also noted that some individuals behind the platforms combine the promotion of fraudulent schemes with legitimate investment-related services to attract unsuspecting members of the public.
The SEC warned Nigerians against investing in any online platform promising guaranteed or unrealistic returns, stressing that such schemes often expose investors to fraud and severe financial losses.
According to the Commission, the public should avoid relying on investment advice circulated online by individuals or organisations that are not registered with the SEC.
It explained that only entities officially licensed under the Investments and Securities Act, 2025 are permitted to offer investment advisory services, promote investment opportunities, or solicit funds from the public within Nigeria’s capital market.
The Commission further urged Nigerians to confirm the registration status of any company or platform offering investment opportunities through its official verification portals before committing funds.
