Latest News
Ponzi Hunters Activated! SEC Introduces USSD Code to Protect Nigerians’ Investments
The Securities and Exchange Commission (SEC) has unveiled plans to introduce a USSD code system to help Nigerians verify the legitimacy of capital market operators, as part of intensified efforts to curb unregistered investment platforms and clamp down on Ponzi schemes across the country.....KINDLY READ THE FULL STORY HERE▶
Speaking in Abuja over the weekend, the SEC Director-General, Dr. Emomotimi Agama, described the initiative as a key reform aimed at sanitising the capital market and protecting citizens from fraudulent schemes.
“We are introducing a code system that allows mobile phone users to verify a capital market operator via USSD, without needing internet access,” Agama explained. “If anyone approaches you with investment offers, you can simply dial the code to confirm their registration status. This feature will be launched at the next Capital Market Committee Meeting.”
He emphasised that the Commission is ramping up both regulatory enforcement and public education to promote genuine investments while dismantling shady operations disguised as financial opportunities.
“For us at the SEC, regulation is about wealth redistribution,” Agama said. “We encourage people to invest through legitimate channels such as public offers, Collective Investment Schemes, and other structured, regulated products.”
CAC Registration Isn’t Enough, SEC Cautions
Agama warned that a Corporate Affairs Commission (CAC) certificate alone does not authorise anyone to operate as an investment firm.
“The first question to ask anyone offering investment services is about their registration with the SEC. We have licensed stockbrokers, accountants, solicitors, and other sponsored individuals approved to give financial advice,” he said.
Tougher Laws on Ponzi Schemes
Highlighting the recently signed Investment and Securities Act (ISA) 2025, Agama noted that the law introduces stiffer penalties for operators and promoters of Ponzi schemes, now officially termed “prohibited schemes.”
“Under the new Act, offenders face fines starting at ₦20 million and up to ₦1 billion, plus as much as 10 years in prison,” he revealed.
The SEC also now has authority to prosecute celebrities and influencers who promote such schemes.
“We will go after influencers and celebrities who amplify these fraudulent schemes,” Agama vowed. “The SEC is leaving no stone unturned.”
He urged Nigerians to steer clear of unregistered investment outfits promising unrealistic or guaranteed returns.
“These schemes are not licensed by the SEC and offer no investor protection,” he stressed. “Always verify a firm’s status on our website or contact us directly. We remain committed to protecting investors, ensuring fair practices, and maintaining public confidence in Nigeria’s capital market
Latest News
‘Kwankwaso Is More Experienced Than Peter Obi’ – Buhari’s Ex-Aide Declares.
Ahmad made the assertion in a post on his X handle, maintaining that Kwankwaso’s decision to accept the position of running mate should be seen as an act of political modesty rather than an indication that he is less qualified than Obi.....KINDLY READ THE FULL STORY HERE▶
According to the former presidential aide, the relationship between the two politicians should be viewed as one of equals rather than that of a superior and a subordinate.
“To be entirely candid, the political dynamic between Rabiu Kwankwaso and Peter Obi ought to be characterised as one of collegiality between peers, rather than a hierarchy of principal and subordinate,” he wrote.
He added, “The choice to assume a deputy role beneath Obi ought to be interpreted as a testament to political modesty.”
Making a case for Kwankwaso’s political experience, Ahmad recalled that the former Kano State governor served as Deputy Speaker of the House of Representatives before Obi became a prominent figure in national politics.
He also noted that Kwankwaso governed Kano State, which he described as Nigeria’s most populous and politically influential state, for two terms and served as a federal minister.
“If we are assessing political experience, Sen. Kwankwaso probably has a longer and more impressive political background than Peter Obi,” Ahmad stated.
In contrast, the former presidential aide argued that Obi’s major public office experience was limited to his tenure as governor of Anambra State.
“Unlike other candidates, Peter Obi was just a former governor of Anambra State,” he wrote.
Latest News
‘I Have Stopped Impregnating Women’ – 2Baba Makes Shocking Revelation.
Nigerian music star Innocent Idibia, popularly known as 2Baba, has declared that he no longer impregnates women.....KINDLY READ THE FULL STORY HERE▶
The singer made the statement on Saturday during a live performance at Rehab Lounge in Calgary, Canada.
While performing his hit song True Love, 2Baba paused to interact with the audience and playfully asked the women present to identify where his true love was.
He jokingly wondered whether she was standing at the back of the venue or somewhere in front of him before making a remark about his experiences with women.
The award-winning musician told the audience that he had stopped getting women pregnant, adding that he had been making the same confession wherever he performed recently.
He said, “For the purpose of this show, I will pretend like I’ve never seen anything before. Where’s my true love? Is she back there? Is she right here? Is she somewhere here? Where’s my true love? You people shouldn’t put out me for trouble.
“As I said, some ladies they fear to shout. See, everywhere I go these days, I make this confession. As I say, some ladies they fear to shout. I say, I don’t fear to shout. Because I don’t stop to dey give woman belle. Ask anyone, they’ll tell you, I don’t do such thing things again.”
The singer’s comment comes amid public interest in his personal life and relationships.
2Baba was previously married to Nollywood actress Annie Macaulay-Idibia. The couple announced their separation in January 2025 after having two children together.
Latest News
NPFL Cracks Down! Abia Warriors, Katsina United, Warri Wolves Hit With Sanctions.
Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.....KINDLY READ THE FULL STORY HERE▶
Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.
The Umuahia-based club was also found guilty of an attempt by one of its officials to disrupt the live broadcast of the match by harassing a crew member of the league’s broadcast partner.
As part of the disciplinary measures, Abia Warriors’ multimedia officer, Chidera Favour Igwe, has been suspended from all NPFL match activities for five matches.
Katsina United, meanwhile, were fined ₦2 million for failing to provide adequate and effective security during their home fixture against Plateau United.
The club was also sanctioned for allowing supporters to encroach onto the field of play during the encounter.
Warri Wolves Receive Heaviest Punishment
Warri Wolves have been handed the most severe sanctions following the unruly behaviour of their supporters during Sunday’s Matchday 10 clash against Kano Pillars in Ozoro.
The Seasiders were fined ₦4.2 million and docked three points and three goals from their accumulated tally. The club was also ordered to play its next three home matches behind closed doors.
According to the NPFL, Warri Wolves failed to provide adequate security at the stadium, resulting in an assault on match officials after the final whistle.
The league further disclosed that the second assistant referee sustained a nose injury and was left bleeding during the incident.
The NPFL stated that all three clubs have 48 hours from the date of notification to appeal their respective sanctions in accordance with the league’s disciplinary procedures.
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