CBEX: SEC Warns Social Media Influencers, Bloggers Against Promoting Unregistered Schemes
The Securities and Exchange Commission (SEC) has warned social media influencers and bloggers against promoting unregistered investment schemes.
SEC’s director-general, Emomotimi Agama, gave the warning in a notice on Sunday.
He said the commission was working closely with the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, and other relevant government agencies to investigate and prosecute violators.
According to Mr Agama, the recently enacted Investments and Securities Act (ISA) 2025 targets unregistered investment scheme promoters.
He urged celebrities, influencers, and bloggers to avoid endorsing such ventures or face legal consequences.
“The law also covers influencers and bloggers who promote fraudulent schemes, with clear penalties, includi...