# SEC warns Nigerians against unregistered WayvePay

> SEC warns Nigerians to avoid unregistered WayvePay investment platform.
- Title: SEC warns Nigerians against unregistered WayvePay | Shortify
- Summary: SEC warns Nigerians to avoid unregistered WayvePay investment platform. SEC warns Nigerians against investing with unregistered WayvePay, which risks fraud…
- Keywords: sec, wayvepay, nigerian capital market, unregistered investment platform, fraud risk, investor protection, news, politics, warns, Nigerians, against, unregistered
- Source: Premium Times Nigeria — https://premiumtimesng.com/business/business-news/915982-sec-warns-nigerians-against-investing-with-unregistered-wayvepay.html
- Author: Omotoyosi Idowu
- Published: 2026-10-10T16:03:02+00:00
- Read time: 1 min
- Topics: sec, wayvepay, nigerian capital market, unregistered investment platform, fraud risk, investor protection, news, politics
## 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.
## Key takeaway

SEC warns Nigerians against investing with unregistered WayvePay, which risks fraud and financial loss.