The Securities and Exchange Commission has warned celebrities, bloggers, and social media influencers to stop promoting unregistered and fake investment schemes in Nigeria.
In a statement released on Sunday, the SEC said that the new Investments and Securities Act (ISA) 2025 clearly states that anyone involved in such promotions could face prison terms and heavy fines.
The Director General of SEC, Dr. Emomotimi Agama, said, “The law also targets influencers and bloggers who promote fraudulent schemes, with clear penalties including imprisonment.”
He advised Nigerians to be careful when they are offered investment deals, especially those that promise huge profits in a short time.
“People must be careful, ask questions, and consult professionals before investing their hard-earned money,” he said.
The SEC said it is now working closely with the Economic and Financial Crimes Commission, the Nigerian Police, and other government bodies to catch and punish those involved in illegal investment schemes.
Dr. Agama explained that the Commission has also created special departments to monitor market activities more closely and to respond quickly when they hear of any suspicious investment offers.
“Once we hear anything, we do something,” he added.
This warning comes after a popular digital investment platform, CBEX, reportedly scammed Nigerians of over ₦1.3 trillion by promising to double their money in one month. The company also claimed to have international partners, which turned out to be false.
To fight against such frauds, the new ISA 2025 law now includes strong rules. It defines Ponzi schemes and sets strict punishments, including a minimum fine of ₦20 million and at least 10 years in prison for those found guilty.
The law also puts all digital investment platforms under SEC control. This means that any platform dealing in virtual or digital assets must now register with the Commission and follow its rules.
Dr. Agama said, “The SEC is capable, has the capacity, has the knowhow, and of course will be able to deal with anyone caught in this mess.”
He also said the Commission has started new campaigns to teach Nigerians about safe investing. These include podcasts, social media education, and even teaching about capital markets in schools.
“We have launched a podcast where we educate and enlighten Nigerians on the dangers of investing in unregistered schemes,” he noted.
Dr. Agama ended by urging Nigerians to always confirm any investment opportunity with the SEC before putting in their money.
“Once it is too good to be true, it certainly is not true,” he warned.
He said the goal of the SEC is to build a fair and safe capital market where all Nigerians can benefit.
