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The Securities and Exchange Commission (SEC) has cautioned Nigerians about putting their money in unauthorized investment schemes, explicitly mentioning Silverkuun Investment Cooperative Society and Silverkuun Limited.
In a bulletin released on Wednesday, the SEC indicated that it had been notified about the operations of these entities, which falsely claim to be investment advisors and fund managers in the Nigerian capital market.
The statement read, “The attention of the Securities and Exchange Commission ('the Commission') has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited, which presents itself as an investment advisor/fund manager.”
The SEC warned the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity within the Nigerian capital market.
SEC advised individuals to avoid interacting with the company or its representatives for any capital market business.
The Commission further emphasized that dealing with unregistered and unregulated entities carries serious financial risks, including fraud and potential investment losses.
“The Commission reiterates that engaging with unregistered and unregulated entities in the Nigerian capital market puts investors at risk of fraud and loss of their investments. Therefore, the investing public is reminded to verify the registration status of companies and entities offering investment opportunities on the Commission’s portal before engaging with them,” the statement continued.
Related reports include SEC's warning about the Silverkuun investment scheme and urging parents to protect children from Ponzi schemes.
SEC's Director-General, Emomotimi Agama, emphasized that the Commission will act decisively against such firms. “We will shut down their activities, and the promoters will face the full extent of the law,” Agama cautioned.
He also mentioned that under the new Investment and Securities Act 2025, digital assets are now officially under SEC’s oversight, requiring all virtual asset service providers and digital asset exchanges to register with the Commission.
“In a significant reform, ISA 2025 officially includes digital assets under the SEC’s regulatory framework, categorizing them as securities and mandating registration for all virtual asset service providers and digital asset exchanges,” he explained.
Agama added that the Commission is prioritizing investor education through podcasts, digital campaigns, and introducing capital market literacy in educational institutions.
“This is part of our strategy to arm Nigerians with the knowledge necessary to identify and steer clear of fraudulent investments,” he said.
Rockparrot News recalled that the SEC has warned traders against Ponzi schemes and urged them to verify any investment opportunity with the Commission before using their funds.
