SEC flags 10 unlicensed Investment platforms in 2025

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The Securities and Exchange Commission (SEC) has intensified its crackdown on unlicensed investment operators in Nigeria, flagging at least 10 entities in 2025. The regulator has warned investors about the risks associated with these platforms, citing violations of the Investments and Securities Act (ISA).

According to SEC, the flagged entities include CBEX (Crypto Bridge Exchange), UYJ Multitrade Limited (“My Share”), Pro-Vest (Promiseland Estate and Construction Ltd), (link unavailable), Property World Africa Network (PWAN/PWAN Max), Silverkuun Investment Cooperative Society (Silverkuun Limited), Punisher Coin ($PUN), ZugaCoin, SamZuga GPT, Sapphire Scents Limited, and CMTrading

SEC has consistently warned about Ponzi and fraudulent investment schemes, with enforcement actions increasing after the CBEX incident, which defrauded investors of over N1.3 trillion. “The public is strongly advised to always verify the registration status of any entity or individual offering investment services through the Commission’s website or the dedicated CMOs portal,” SEC stated.

For further information, read more details here

Industry observers believe the CBEX crisis was a turning point in Nigeria’s regulatory posture. David Adonri, Vice Chairman of Highcap Securities, commended the SEC’s efforts but suggested punishing investors who patronize unregistered platforms. “The government also needs to apply some punishment on the victims themselves for aiding and abetting the perpetration of fraud in Nigeria’s financial system,” he said.

The SEC has reiterated its commitment to investor protection and market integrity, warning that more names will be published as investigations continue. The regulator has also called on the public to report suspicious platforms or investment offers promising unrealistic returns

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