Regulator warns against unregistered platforms on WhatsApp, Telegram, TikTok, Instagram, and Facebook promising “guaranteed returns”……
The Securities and Exchange Commission has issued a fresh warning to Nigerians over the growing spread of unregistered online investment schemes aggressively promoted across social media platforms and messaging apps.
In a statement released on Thursday, the Commission said it had observed a sharp increase in suspicious investment promotions circulating on platforms such as WhatsApp, Telegram, Instagram, Facebook, TikTok, and other digital channels.
According to the SEC, many of the schemes display the typical characteristics of Ponzi operations and other prohibited investment arrangements designed to lure unsuspecting investors with promises of unusually high or guaranteed profits.
The regulator also raised concerns that some operators behind the schemes falsely present themselves as legitimate financial advisers or investment service providers in a bid to gain public trust.
“The Commission hereby advises the public to refrain from investing or participating in any unregistered online investment platform or scheme promising unrealistic or guaranteed returns,” the statement said.
The SEC further warned Nigerians against relying on investment tips, financial advice, or wealth-building opportunities promoted by individuals and entities that are not officially registered with the Commission.
According to the agency, investors who engage with such platforms risk losing their funds to fraudulent operators exploiting the growing popularity of digital finance and social media marketing.
Under the provisions of the Investments and Securities Act 2025, only firms and entities registered by the Commission are legally permitted to offer investment services, provide investment advisory services, or solicit funds from members of the public within Nigeria’s capital market.
The warning comes amid increasing concerns over the rise of online financial scams targeting young Nigerians, especially through private messaging groups and influencer-driven promotions on social media.
The Commission urged the public to always verify the registration status of any company, platform, or individual offering investment opportunities before committing funds.
It added that verification can be carried out through the SEC’s official portals dedicated to confirming licensed operators in the Nigerian capital market.
With economic pressures pushing more Nigerians toward alternative income opportunities, regulators fear fraudulent investment platforms may continue exploiting vulnerable investors seeking quick returns online.
