The Securities and Exchange Commission (SEC) has issued a stern warning to Nigerians, urging them to avoid unregistered investment schemes, specifically naming Silverkuun Investment Cooperative Society and Silverkuun Limited.
In a circular released on Wednesday, the Commission disclosed it had received reports about the activities of these entities, which falsely present themselves as licensed investment advisers and fund managers within Nigeria’s capital market.
“The attention of the Securities and Exchange Commission (‘the Commission’) has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited which holds itself out as an investment adviser/fund manager,” the circular stated.
It further clarified that Silverkuun Investment Cooperative Society and Silverkuun Limited are not registered to operate in any capacity in the Nigerian capital market. The Commission therefore advised the public to refrain from transacting with the companies or their representatives for any capital market-related business.
SEC emphasized that engaging with unregistered or unregulated investment platforms carries serious financial risks such as fraud and loss of funds.
“The Commission uses this medium to reiterate that transacting in the Nigerian capital market with unregistered and unregulated entities exposes investors to financial risk including fraud and potential loss of investment,” it added.
SEC’s Director-General, Emomotimi Agama, also issued a strong warning, stating that the Commission would take decisive enforcement actions against violators.
“We will shut down their operations, and the promoters will be made to face the full weight of the law,” Agama declared.
He also announced that under the new Investment and Securities Act (ISA) 2025, digital assets now fall under the SEC’s regulatory framework. This means all virtual asset service providers and digital asset exchanges must register with the Commission.
“In a major reform, ISA 2025 officially brings digital assets under the SEC’s regulatory purview, defining them as securities and mandating registration,” Agama said.
In a move to boost public awareness, the SEC is intensifying investor education through podcasts, digital outreach, and the inclusion of capital market literacy in schools and universities.
“This is part of our strategy to equip Nigerians with the knowledge to detect and avoid dubious investments,” Agama noted.
News Review reports that the SEC continues to caution the public against Ponzi schemes, urging all investors to verify the legitimacy of any investment offer via the Commission’s official portal before committing funds.
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