The Securities and Exchange Commission (SEC) has issued a stern warning to influencers, bloggers, and celebrities against endorsing unregistered investment schemes, citing the legal risks under the newly signed Investments and Securities Act 2025. …  | By sbinsights on April 21, 2025 | The Securities and Exchange Commission (SEC) has issued a stern warning to influencers, bloggers, and celebrities against endorsing unregistered investment schemes, citing the legal risks under the newly signed Investments and Securities Act 2025. According to the commission, the updated legislation—recently signed into law by President Bola Tinubu—provides clearer definitions of Ponzi schemes and empowers the SEC to impose penalties of at least ₦20 million and up to 10 years' imprisonment for promoters. The SEC's Director-General, Emomotimi Agama, noted that the commission is working with the EFCC, Nigeria Police, and other law enforcement agencies to investigate and prosecute individuals and platforms involved in fraudulent investment promotions. Read also "The law also targets those who use their platforms to promote unregistered entities," Agama said. "We are therefore warning such persons to desist or face the full weight of the law." The crackdown follows the recent collapse of CBEX, a digital investment platform accused of defrauding Nigerians of over ₦1.3 trillion. Agama affirmed the SEC's commitment to shutting down similar operations and protecting unsuspecting investors. | | | |
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