Forum Navigation
Please or Register to create posts and topics.

Caveat Emptor:SEC warns Nigerians against rising ponzi schemes on WhatsApp, TikTok, Instagram

PreviousPage 3 of 4Next

I love the ‘Get up to speed’ section. It reminds us of past scams like MMM. We have short memories in this country. Every few years, we fall for the same trick with a new name.

SEC, thank you for the warning. Let this be pinned on every news site. We don’t want to hear ‘had I known’ in December. May 2026 is the time to be extra careful.

Digital platforms have made it too easy to steal. Back in the day, you had to see the person’s face. Now, you just see a ‘DP’ of a pretty girl and you send your life savings.

Is it only me that notices these schemes always come during festive periods? They know people need extra cash for Sallah or Christmas, so they bring the ‘Invest and Win’ bait. Be wise!

Every day for the thief, one day for the owner. But in Ponzi schemes, the owner is usually the first person to cry. Let’s not be the victims this time around.

If someone asks you to ‘bring two people’ before you can withdraw, just know you are in a Ponzi scheme. That is the global signature of a scam. You are the product they are selling.

Investment advice from unlicensed individuals… this hits hard. Your barber or your secondary school classmate shouldn’t be your ‘Financial Adviser’ on WhatsApp status.

Digital channels are a blessing and a curse. You can invest in US stocks from Lagos, but you can also lose money to a scammer in Ghana. The filter is your ‘due diligence’.

Ghost payroll in the US case, and now ghost investments in Nigeria. It seems 2026 is the year of exposing the ‘unseen’ hands stealing our money. Let’s be careful!

Unregistered doesn’t always mean scam, but it means you have ZERO protection. If they run away, SEC can’t help you. You are on your own ‘at sea’ without a life jacket.

PreviousPage 3 of 4Next

Headlines:

Latest Forum Topics