The Securities and Exchange Commission has warned Nigerians against investing in unregistered online investment schemes being aggressively promoted on social media platforms, cautioning that many of them exhibit characteristics of Ponzi schemes.
The warning was contained in a public notice dated May 8, 2026, and published on the Commission’s official communication channels.
According to the SEC, several online platforms promising guaranteed or unrealistic returns are neither registered nor authorised to operate within Nigeria’s capital market.
The Commission noted that the schemes are being heavily promoted across digital platforms, including WhatsApp, Instagram, Telegram, Facebook, TikTok and other social media channels.
“The attention of the Securities and Exchange Commission has been drawn to the increasing promotion of unregistered online investment schemes on social media applications and websites, including WhatsApp, Instagram, Telegram, Facebook, TikTok and other digital platforms,” the SEC stated.
The regulator urged Nigerians to verify the registration status of any investment platform before committing funds, warning that investing in unregulated schemes exposes individuals to the risk of fraud and financial loss.