From Premium Times Nigeria · Omotoyosi Idowu · · 1m 30s
SEC warns Nigerians against unregistered WayvePay
SEC warns Nigerians to avoid unregistered WayvePay investment platform.
In brief
SEC warns Nigerians to avoid unregistered WayvePay investment platform. SEC warns Nigerians against investing with unregistered WayvePay, which risks fraud and financial loss. Originally reported by Premium Times Nigeria.
SEC warns Nigerians
The Securities and Exchange Commission has warned Nigerians against investing through unregistered WayvePay.
WayvePay unregistered
WayvePay operates through a website and social media platforms but is not registered with the SEC.
SEC warning statement
The SEC issued a statement titled 'Suspected Fraudulent Activities of WayvePay' on Friday.
Investment risk
Dealing with unregistered entities exposes investors to fraud and potential loss of funds.
SEC advice
The SEC urges Nigerians to verify registration status before committing funds to investment platforms.
Unregistered investment schemes
Unregistered investment companies in Nigeria expose the public to fraud and financial losses.
Gvest Global warning
On 21 August, SEC warned against Gvest Global and three associated entities over unregistered investment schemes.
Gvest Global operations
Gvest Global operated under names including Gvest (Alausa) Cooperative Multipurpose Limited and Gtext Holdings.
Ponzi scheme indicators
SEC found Gvest Global's operations exhibited typical indicators of Ponzi schemes.
SEC advice to public
The SEC advises the public to avoid engaging with Gvest Global or its representatives in Nigerian capital markets.
Investor protection
SEC urges Nigerians to verify registration status before committing funds to investment platforms.
What happens next
Nigerians should check SEC registration portals before investing with unregistered platforms.
In short
SEC warns Nigerians against investing with unregistered WayvePay, which risks fraud and financial loss.
