The Securities and Exchange Commission (SEC) has revealed that it is actively probing 79 suspected Ponzi schemes currently operating within Nigeria. This sweeping investigation underscores growing concerns about fraudulent investment activities undermining investor confidence and financial stability across the country. According to an official statement from the SEC, these schemes span various states and have
As Nigeria intensifies efforts to regulate the cryptocurrency industry, concerns are mounting that several digital asset businesses may struggle to survive under the emerging regulatory framework. The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have recently doubled down on enforcement measures targeting cryptocurrency exchanges, peer-to-peer (P2P) trading platforms, and digital
Abuja, Nigeria – June 27, 2025 — The Securities and Exchange Commission (SEC) has issued a stern warning to the Nigerian public against participating in the activities of the Value Growth Platform, describing it as a potential Ponzi scheme operating without regulatory approval. In a public advisory released on Thursday, the SEC stated that the
Abuja, June 21, 2025 – The Securities and Exchange Commission (SEC) has issued a new corporate governance directive barring Chief Executive Officers (CEOs) and Executive Directors from immediately taking up the position of Board Chairman within the same company or group upon exiting their executive roles. This directive, announced as part of the Commission’s continued
Nigerians Urged to Stay Away as Victims Report Failed Withdrawals and False Promises In a move that has sent shockwaves through Nigeria’s digital investment community, the Securities and Exchange Commission (SEC) Nigeria has issued a blistering public warning against the online platform Tofro.com, calling it unregistered, illegal, and potentially fraudulent. According to an official statement
The Federal Government has declared a renewed war against Ponzi schemes in Nigeria, with the Economic and Financial Crimes Commission (EFCC) and the Securities and Exchange Commission (SEC) pledging to clamp down on fraudulent investment platforms operating across the country. This move follows the collapse of CBEX, a digital asset trading platform that lured unsuspecting
