Nigeria SEC warns against social media Ponzi schemes

By The BriefBrief

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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