The Securities and Exchange Commission Nigeria (SEC) has revealed a sweeping crackdown on illegal investment operators, shutting down hundreds of fraudulent schemes in recent years.
SEC says it has dismantled about 400 Ponzi and illegal investment schemes over the past three years.
Speaking on the development, Emomotimi Agama said the commission intensified enforcement actions to protect investors from widespread financial scams.
According to him, many Nigerians have fallen victim to unregistered platforms promising unrealistic returns, often disguised as legitimate investment opportunities.
Agama noted that the SEC has stepped up surveillance, enforcement, and public awareness campaigns to curb the rise of fraudulent schemes across the country.
He stressed that the commission will continue to identify, expose, and shut down illegal operators while urging the public to verify any investment platform with the SEC before committing funds.
The SEC boss also warned that fraudsters are becoming more sophisticated, leveraging social media and digital platforms to lure unsuspecting investors.
He reiterated that only investments registered with the SEC are legally recognised, advising Nigerians to avoid schemes offering guaranteed or unusually high returns.
The crackdown forms part of broader efforts to sanitise Nigeria’s financial space and restore investor confidence in the capital market.
