The Securities and Exchange Commission (SEC) has cautioned Nigerians not to invest in GVEST Global and its associated entities, declaring the company’s activities illegal, as it is not registered with SEC and meeting regulatory requirements.

In a public notice published on its website, the capital market regulator revealed that GVEST Global has been unlawfully presenting itself as an investment adviser and fund manager while luring unsuspecting Nigerians into unregistered investment schemes.

However, none of these entities is registered or licensed by the SEC to operate or solicit investments within Nigeria’s capital market.

The regulator noted that the company has been heavily promoted on social media platforms and online forums — a marketing style often linked to fraudulent schemes.

“Investigations have revealed that its operations exhibit typical indicators and characteristics commonly associated with Ponzi schemes,” the SEC warned.

The Commission urged members of the public not to deal with GVEST Global or its representatives, stressing that individuals who choose to invest in such outfits do so at their own risk.

It further reminded investors of the importance of verifying the regulatory status of companies and promoters through the SEC’s official website before committing funds.

The SEC reiterated its commitment to protecting Nigerian investors from fraudulent activities and maintaining confidence in the capital market.

It emphasised that unregistered investment operators not only pose financial risks to investors but also undermine the integrity of the wider financial system.

“Investors are strongly advised to exercise vigilance and report suspicious investment schemes to the Commission,” the notice added.