Ponzi Scheme – InfoStride News

SEC decries investor preference for Ponzi schemes

Temitope Nlewemchi — Mon, 12 Jan 2026 14:59:27 +0000

The Securities and Exchange Commission (SEC) has expressed deep concern over the increasing number of investors falling prey to Ponzi schemes. The regulator warns that such fraudulent investment operations promise high returns with little or no risk, but ultimately collapse, causing significant financial losses to unsuspecting investors. The SEC noted that despite repeated public [...]

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Chartered Institute of Stockbrokers Targets Ponzi Scheme Menace with Youth Financial Literacy Drive

Temitope Nlewemchi — Thu, 18 Sep 2025 15:29:16 +0000

The Chartered Institute of Stockbrokers (CIS) has announced fresh plans to confront the growing threat of Ponzi schemes in Nigeria by rolling out financial literacy initiatives targeted at young people. The Institute explained that equipping the youth with financial knowledge and investment skills is the most effective long-term strategy to stop the proliferation of fraudulent [...]

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SEC kicks against operations of Poyoyo Investment, FinAfrica Investment Ltd

Temitope Nlewemchi — Wed, 29 Dec 2021 16:17:22 +0000

The Securities and Exchange Commission (SEC) has laid out a warning to the public over the activities of FinAfrica Investment Ltd and Poyoyo Investment, stating that the companies have not been approved by the Commission and operate as Ponzi schemes. The SEC made this known in a circular by the management of the SEC and [...]

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Court set to sanction banks that don’t comply with court order on the Ajetunmobi’s firm

Temitope Nlewemchi — Thu, 04 Nov 2021 18:23:27 +0000

An Ikoyi division of the Lagos State high court has threatened to sanction bank executives who fail to release the amount to the credit of Bamise and Elizabeth Ajetunmobi, owners of Imagine Global Holding Company Ltd. and Imagine Global solution Ltd. At the last adjourned date, the court had restrained commercial banks from releasing N11.79 [...]

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CBN promises to deal with Ponzi scheme operators

Temitope Nlewemchi — Fri, 29 Oct 2021 22:32:25 +0000

The Central Bank of Nigeria (CBN) has established that it is collaborating with security agencies to prosecute Ponzi scheme operators. This was earlier mentioned by the Director of the CBN’s Corporate Communications Department, Mr Osita Nwanisobi, at the Central Bank of Nigeria Fair which took place at Akanu Ibiam International Conference Centre, Abakaliki, the capital [...]

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Once Again, SEC warns against patronage of ponzi schemes

Temitope Nlewemchi — Tue, 17 Aug 2021 18:28:58 +0000

The Securities and Exchange Commission (SEC) has once again, bemoaned the proliferation of fraudulent investment outfits in the capital market, urging investors to desist from patronising of such illegal operators. he Director-General of SEC, Lamido Yuguda, while speaking at the second post-Capital Market Committee (CMC) virtual media briefing held at the weekend, urged Nigerians to [...]

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EFCC Investigating Popular Ponzi Scheme

David Folami — Wed, 16 Nov 2016 13:24:32 +0000

The Economic and Financial Crimes Commission (EFCC) is investigating the Mavrodi Mondial Movement (MMM) investment scheme, its spokesperson has said. EFCC spokesman, Wilson Uwujaren, also spoke on the House of Representatives order to shut down the scheme. “We can only arrest people based on the evidence that we have. The House made a resolution but [...]

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