The sec warns that it is not in promotion of unregistered investment schemes – Thage

By Barth Ikiebe

The Securities and Exchange Commission warned influencers, bloggers and celebrities to desist from the promotion of unregistered investment patterns or legal consequences of risk.

The warning follows the law on investment and on Securities 2025, which was signed by law by President Bola Tinubu. The new law explicitly defines Ponzi’s patterns and allows the Commission to impose a minimum fine of N20M and a prison sentence of 10 years on the promoters of these patterns.

Speaking of the new provisions, the general manager of the century, EMOMOTIMI AGAMA, said that the Commission is working closely with the Commission for economic and financial crimes, the police forces of Nigeria and other law enforcement agencies to investigate and pursue violators.

“The law also addresses influencers and bloggers who promote fraudulent patterns, with clear penalties including captivity. Therefore we are using this means to warn these people to desist from promoting unregistered entities,” said Agama.

He observed that the sec is intensifying his repression of the Ponzi operators following the collapse of Cbex, a digital investment platform accused of having fraudate Nigerians of over N1.3TN. According to reports, CBEX has attracted investors with promises of non -realistic returns and false statements of global affiliations.

“We will close their operations and the promoters will be done to face the entire weight of the law,” said Agama.

According to the head of the century, the ISA 2025 also brings digital activities under the regulatory supervision of the Commission for the first time. He said that virtual activities are now officially recognized as titles and, as such, virtual asset service providers and digital activities exchanges are in charge of registering with the century and respecting the relevant rules.

Agama stressed that education remains a fundamental part of the SEC strategy to protect Nigerian investors. “We launched a podcast in which we educate and illuminate the Nigerians on the dangers of investing in unregistered patterns,” he added, adding that the commission is also pushing the education to the capital market in schools and universities.

The Commission advised the public to always check the registration status of any investment system with the century before separating from their funds. “Once it’s too beautiful to be true, it is certainly not true,” he warned.

He also revealed that the century has established specialized departments to monitor market activities, conduct inspections and detect the first signs of fraud. “We have a monitoring department. We also make inspections on site. Once we hear something, we do something,” he said.

Agama reiterated the commitment of the century to the protection of investors and the development of the market.

“The capital market helps you democratize wealth for everyone.

The Isa 2025 therefore represents a significant step forward in the protection of Nigerian investors and the promotion of a resilient financial market, “he said.

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