SEC Alerts Nigerians to Beware Fake Social Media Investment Scams

The Securities and Exchange Commission has issued a warning about unregistered investment schemes being promoted on social media. These platforms include WhatsApp, Instagram, Telegram, Facebook and TikTok. Many of the offers promise unrealistically high or guaranteed returns and show classic signs of Ponzi schemes. The SEC reminds investors that only registered operators may provide legitimate investment and advisory services in Nigeria. Before committing funds, Nigerians are urged to verify the registration status of any investment platform or adviser. Schemes promising unusually high profits often lead to severe financial losses.

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