The Securities and Exchange Commission has warned Nigerians against the rising promotion of unregistered online investment schemes across social media platforms. The regulator says many of the schemes circulating on WhatsApp, Instagram, Telegram, Facebook and TikTok show characteristics of Ponzi operations.
In a statement on Thursday, the Commission advised the public not to invest in platforms promising unrealistic or guaranteed returns, noting that such offers often lead to financial losses. It also cautioned against relying on investment advice from unregistered individuals or entities online.
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The SEC stressed that only firms registered under the Investments and Securities Act, 2025 are legally allowed to offer investment services or solicit funds from the public. It urged Nigerians to verify the registration status of any investment platform before committing funds.
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