Verify From Us before Investing, SEC Warns Nigerians

The Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has urged Nigerians to be vigilant against fraudulent investment schemes, warning that any firm promising impossible returns is certainly a scam.

Agama, who spoke on Channels Television’s on Tuesday, stressed that registration with the SEC remains the only valid authorisation for operators in Nigeria’s capital market.

“The Corporate Affairs Commission will register your business, but does not register your functionality in the Nigerian capital market. Licenses for investments and securities businesses are issued only by the SEC, not by any other body,” he said.

The SEC boss revealed that the commission has issued over 85 advisories on fraudulent schemes ranging from real estate scams to pump-and-dump operations.

“Once somebody tells you they can give you something you know is not possible, know certainly that that is a fraud,” he warned.

Quoting Section 3(a) of the Investment and Security Act, No. 2 of 2025, Agama said the SEC is empowered by law to regulate investment businesses in Nigeria and will continue to enforce compliance.

He added that any operator not registered with the Commission is acting illegally.

He urged Nigerians to always verify investment firms before committing funds, noting that the SEC has offices in Abuja, Lagos, Kano, and Port Harcourt, with plans underway to launch a digital platform and mobile app for real-time verification of registered operators.

Agama also disclosed that the capital market value has risen above ₦91tn, attributing the growth to stronger governance, improved market infrastructure, and enhanced operator capacity.

In July, the SEC announced that it was investigating 79 suspected Ponzi schemes across the country.

Verify From Us before Investing, SEC Warns Nigerians is first published on The Whistler Newspaper