With the rising penetration of social media and digital finance instruments, extra Nigerians are falling prey to doubtful platforms promising fast and unrealistic returns.
The Securities and Trade Fee (SEC) has responded with repeated public warnings, investor sensitization campaigns, and regulatory enforcement actions to defend buyers from such scams.
But, the frequency of those schemes, many disguised as reliable companies or tech-based alternatives, continues to rise, typically focusing on on a regular basis Nigerians trying to develop their financial savings or escape {financial} hardship.
Thus far this yr, the SEC has raised the pink flag on seven extra funding platforms, describing them as unlawful operators operating schemes that bear the hallmarks of Ponzi operations.
From CBEX, which collapsed in April, to a number of others nonetheless actively receiving funds from unsuspecting buyers, the checklist has stored on rising.
Listed here are seven of such funding platforms thus far flagged by the SEC this yr:
1. Pocket Possibility
Flagged: July 21, 2025
Promoted as a web based funding adviser/fund supervisor, SEC famous that Pocket Possibility lures buyers with guarantees of worthwhile funding alternatives.
Based on the Fee, investigations revealed that it operates primarily by social media and on-line boards, displaying basic traits of a Ponzi scheme.
The SEC acknowledged unequivocally that the platform will not be registered or licensed to supply funding companies in Nigeria.
2. Forsman & Bodenfors LTD (F&B)
Flagged: July 14, 2025
Parading because the Nigerian arm of a Swedish promoting agency, F&B, the SEC mentioned promoters of this fraudulent Nigerian entity go about promising Nigerians automated employment within the firm as compensation for recruiting extra members who’re lured to pay numerous sums of cash for numerous positions within the firm.
The Fee, in a public discover to buyers, mentioned its preliminary investigations discovered that the platform was a entrance for a pyramid-style rip-off and warned the general public to keep away from it fully.
3. Worth Development Platform
Flagged: June 30, 2025
Working beneath the guise of providing market evaluation and buying and selling companies, Worth Development Platform attracted buyers with “assured returns” and financial incentives for referrals.
The SEC described its operations as exhibiting typical Ponzi scheme options and confirmed the platform is unlicensed.
“Investigations have revealed that VALUE GROWTH PLATFORM’s operations exhibit typical indicators of a fraudulent Ponzi scheme, which incorporates guarantees of assured returns, heavy reliance on a referral system with guarantees of financial rewards for referrals, and determined requests for subscribers to fund accounts,” SEC acknowledged.
4. CMTrading
Flagged: June 20, 2025
Based on SEC, the platform claims to be licenced as GCMT SOUTH AFRICA PTY LTD by the {Financial} Sector Conduct Authority (FSCA) of South Africa and as a securities seller by the {Financial} Companies Authority (FSA) of Seychelles.
The platform makes use of cloned web sites of respected media homes such because the Punch Newspaper, Vanguard Newspaper, BBC, Channels Tv and Come up Tv to draw unsuspecting victims. It additionally posts cloned movies and photos of outstanding Nigerians on social media, promising financial advantages to subscribers.
The SEC revealed that CMTrading’s operations closely depend on high-return guarantees and a referral-based payout mannequin—key pink flags of Ponzi fraud.
5. Sapphire Scents Restricted
Flagged: June 19, 2025
The SEC acknowledged that Sapphire Scents Restricted, which holds itself out as an Funding Adviser/Fund Supervisor selling an unregistered funding scheme, will not be registered to function in any capability within the Nigerian Capital Market.
“Accordingly, the general public is suggested to chorus from participating with Sapphire Scents Restricted or its representatives in respect of any enterprise within the Nigerian Capital Market, as any one that does so is at his/her personal danger,” it warned.
6. CBEX (Crypto Bridge Trade) / ST Applied sciences Worldwide Ltd
Flagged: June 11, 2025
After its collapse in April, with many Nigerian buyers’ funds trapped, CBEX resurfaced beneath the identify ST Applied sciences or Good Treasure. The platform reportedly demanded fee from customers earlier than processing withdrawals.
Based on experiences, CBEX promoters have been demanding $200 from their subscribers with balances above $1,000, and $100 from these with lower than $1000 balances earlier than withdrawals may very well be processed.
“The Fee hereby restate unequivocally that neither CBEX nor ST Applied sciences Worldwide Ltd (or Good Treasure/Tremendous Expertise) is registered with the Fee or licensed to supply funding associated companies to the Nigerian public,” the SEC acknowledged
It added that enforcement motion has already been initiated in opposition to CBEX and its promoters following its earlier unauthorized funding actions, and the Fee was collaborating with related Regulation Enforcement Companies to correctly examine the corporate, including that it might take applicable actions in keeping with the provisions of the Investments and Securities Act 2025.
7. Punisher Coin ($PUN)
Flagged: June 5, 2025
Promoted as a meme coin in unauthorized presale campaigns, SEC mentioned Punisher Coin lacks any reliable use case or mission backing.
The SEC warned that such cash are liable to “pump and dump” scams, the place promoters hype a coin to inflate costs earlier than offloading their holdings, leaving unsuspecting buyers with nugatory tokens.
“Accordingly, the general public is suggested to chorus from participating within the purported presale of PUNISHER COIN ($PUN) as any one that invests within the scheme does so at his/her personal danger,” the Fee warned.
In all seven circumstances, the SEC has reiterated that these platforms aren’t licensed to solicit funds or supply funding companies in Nigeria. Traders participating with them accomplish that at their very own danger. The Fee additionally reminded the general public that the presence of an organization on-line or on social media doesn’t suggest legitimacy.
