Event Brief
Nigeria SEC warns against social media Ponzi schemes
Filed: May 18, 2026 at 4:04 AM ET
Summary: Nigeria’s SEC warned against investing in unregistered online schemes promoted on social media that resemble Ponzi schemes.
WHO: Nigeria’s Securities and Exchange Commission (SEC)
WHAT: Issued a warning against investing in unregistered online investment schemes promoted on social media that show Ponzi-scheme characteristics.
WHEN: May 18, 2026 at 3:22 AM ET
WHERE: Nigeria
WHY: The SEC warned in response to unregistered online investment schemes being aggressively promoted on social media and exhibiting Ponzi-scheme characteristics.
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