Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) has issued a stern warning to celebrities, social media influencers, and bloggers over the promotion of unregistered and fraudulent investment schemes.
The Commission has also reminded the public that the recently signed Investments and Securities Act (ISA) 2025 prescribes stiff penalties for violations, including jail terms and heavy fines.
In a statement yesterday, the Commission disclosed that it is collaborating with law enforcement agencies such as the Economic and Financial Crimes Commission (EFCC), the Nigerian Police Force, and other relevant government institutions to investigate and prosecute individuals and platforms involved in unlawful investment promotions.
Director General of the SEC, Dr. Emomotimi Agama, noted that the ISA 2025 contains specific provisions targeting promoters of fraudulent and unregistered investment schemes.
According to him, those who exploit their platforms to promote such ventures now face serious legal risks. “The law also targets influencers and bloggers who promote fraudulent schemes, with clear penalties including imprisonment,” he said, urging them to desist immediately.