RismadarVoice Reporters, May 18, 2026
The Securities and Exchange Commission (SEC) has cautioned Nigerians against investing in unregistered online investment platforms increasingly promoted across social media, warning that many of them bear the characteristics of Ponzi schemes.
The warning was issued in a public notice dated May 8, 2026, and released through the Commission’s official communication channels.
According to the capital market regulator, a number of online platforms promising guaranteed or unusually high returns are operating without registration or authorisation within Nigeria’s financial market.
The Commission stated that the schemes are being aggressively advertised through several digital platforms, including WhatsApp, Instagram, Telegram, Facebook, TikTok and other online channels.
“The attention of the Securities and Exchange Commission has been drawn to the increasing promotion of unregistered online investment schemes on social media applications and websites,” the notice stated.
The SEC explained that many of the schemes display patterns commonly linked to Ponzi arrangements and other prohibited investment operations. It also noted that some operators are allegedly offering unauthorised investment services to unsuspecting members of the public.
The Commission warned that individuals who engage with such platforms face the risk of financial loss, stressing that offers promising guaranteed or unrealistic profits should immediately raise concern.
The agency urged members of the public to avoid investing in unregistered schemes and advised against relying on financial guidance from unlicensed individuals or organisations.
According to the SEC, only operators duly registered with the Commission are legally permitted to provide investment and advisory services within Nigeria’s capital market.
The Commission further encouraged prospective investors to verify the registration status of investment companies, platforms and promoters before committing funds.
It advised Nigerians to make use of the Commission’s verification portal to confirm the legitimacy of any investment opportunity before carrying out financial transactions.
