Abuja, May 29, 2025
The Securities and Exchange Commission (SEC) has issued a serious warning to Nigerians about two popular companies, Silverkuun Investment Cooperative Society/Silverkuun Limited and Property World Africa Network (PWAN)/PWANMAX, declaring that they are not licensed to collect money from the public for any form of investment.
In notices released this week, the SEC explained that both Silverkuun and PWAN have been operating without the necessary approval to function as investment firms or financial managers. Yet, these companies have been actively collecting money from Nigerians with promises of returns, something only licensed institutions are allowed to do.
Silverkuun, which has branded itself as a cooperative society, is said to be offering wealth building plans and collecting funds from the public. However, the SEC says it is not recognized in any capacity to operate in Nigeria’s capital market.
“The Commission hereby informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is NOT REGISTERED to operate in any capacity in the Nigerian Capital Market,” the official statement reads.
The second alert was directed at PWAN and its affiliate PWANMAX, which are popular in the real estate space for selling land and running estate projects. According to the SEC, some of their activities amount to investment schemes that require a license, yet none exists.
“PWAN/PWANMAX is not registered by the Commission to conduct investment business of any kind,” the statement noted.
What this means for Nigerians is simple: if you give your money to these companies for investment, you are doing so at your own risk. They are not under the control of any financial regulator, and there is no protection for your money.
The SEC is advising members of the public to always confirm the status of any investment firm before paying money. You can do this by visiting (link unavailable).
The Commission has also provided channels to report any suspected scams or unauthorized financial schemes:
Phone: 09 462 1168 or 09 462 1169
WhatsApp: 0916 772 3240
Email: [email protected]
This latest development is part of the SEC’s wider effort to clamp down on unregistered investment schemes that continue to take advantage of innocent Nigerians, especially those looking for alternative sources of income.
The Commission warned that many people have lost their life savings to companies that appear flashy and convincing but are operating illegally. Nigerians are advised to be more careful and avoid any platform that cannot prove it is licensed by the SEC.
In tough economic times, more people are looking for quick ways to grow their money. But experts warn that not every opportunity is genuine. If a company offers investment returns but is not registered with the SEC, it is a red flag and one that must not be ignored.
