The Securities and Exchange Commission (SEC) has issued a strong warning to the public, cautioning against involvement in unregistered investment schemes, specifically naming Silverkuun Investment Cooperative Society and Silverkuun Limited. According to a circular released in Abuja, the Commission made it clear that Silverkuun is not authorised to operate in any capacity within Nigeria’s capital market.
The SEC stated that its attention was drawn to the activities of Silverkuun, which has been presenting itself to the public as an investment adviser and fund manager despite lacking the necessary registration and regulatory approval. The Commission has now officially disclaimed the company’s legitimacy and urged Nigerians to avoid any capital market transactions with it or its representatives.
The regulatory body reiterated that engaging with unregistered or unregulated entities exposes investors to significant financial risks, including fraud and potential loss of funds. It stressed the importance of due diligence and encouraged the public to verify the registration status of any investment company or platform via its official portal:http://www.sec.gov.ng/cmos.
The warning comes amid growing concerns over the rising number of fraudulent investment platforms targeting unsuspecting Nigerians, often promising high returns without regulatory oversight.
SEC’s Director-General, Dr. Emomotimi Agama, underscored the Commission’s commitment to protecting investors and maintaining the integrity of the market. He reaffirmed that the SEC would not hesitate to take decisive action against any entity found to be operating illegally in the sector. According to him, both the businesses and their promoters will face legal consequences.
This latest development serves as a reminder of the need for vigilance in a financial environment where scams continue to evolve. Investors are urged to seek information directly from verified regulatory channels and avoid schemes that operate outside the law.
