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SEC Identifies Gvest Global as Ponzi Scheme, Says It’s not a Registered Platform
The Securities and Exchange Commission (SEC) has just warned Nigerians about Gvest Global, saying it is a Ponzi scheme and not a legal investment platform. The SEC wants everyone to know that Gvest Global is not registered with them, so investing in it is very risky and could lead to financial loss. This warning is part of the SEC’s ongoing work to protect Nigerians from fake and dangerous investment schemes.
Gvest Global has been talking about itself as if it is a proper investment fund manager or adviser. They run different campaigns online, promising big returns to people who put money in. But the SEC says this is not true. Gvest Global is not registered with the SEC at all, meaning it is not allowed to operate as an investment platform in Nigeria. The commission’s statement is very clear: “Gvest Global is not REGISTERED by the SEC to collect money from the public or do any investment business.”
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Besides the name Gvest Global, this company also uses other names like GVEST (Alausa) Cooperative Multipurpose Limited, GVEST Investment Limited, and GTEXT Holdings. These are all the same business running this Ponzi scheme in different ways. The SEC has found strong signs that Gvest Global works like a Ponzi scheme, where money from new investors is used to pay earlier investors, which is not a real or safe way to make money. Unfortunately, many Nigerians have been drawn into this scheme because it is advertised a lot on social media and other internet sites.
That is why the SEC is telling people to be very careful. They advise everyone to check if an investment company is registered on the SEC’s website before giving them any money. Just because a company is registered with the Corporate Affairs Commission (CAC) or other government agencies does not mean it is allowed to handle investments. The SEC explained that to legally operate as an investment company, a business must be registered with the SEC, not just the CAC.
Emomotimi Agama, the SEC’s Director-General, has said before that Nigerians must watch out for investment offers that sound too good to be true. He said, “if it’s too good to be true, certainly it’s not true.” He pointed out that some companies register with the CAC or the EFCC’s special unit but still don’t have SEC approval. So, that doesn’t make them safe or legal investment platforms.
Gvest Global is just one of many risky platforms the SEC has flagged recently. Others include Pocket Option, Forsman & Bodenfors LTD (F&B), Tofro, Crypto Bridge Exchange (CBEX), and Sapphire Scents Limited. These companies also claim to offer great investment opportunities but are not registered with the SEC and have caused many Nigerians to lose money.
The SEC is working hard to fight these Ponzi schemes and to keep Nigerians safe. They urge all investors to always check a company’s registration status on the SEC website before investing. It is important not to rush or trust just because you see ads on social media or hear from friends.
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To be safe, Nigerians should only invest money in platforms and companies that are properly registered and regulated by the SEC. They should also seek advice from licensed professionals like lawyers, brokers, or financial advisers who understand the market and can help avoid scams.
The SEC identifies Gvest Global as a Ponzi scheme and says it is not a registered platform. Nigerians should be very careful and avoid giving any money to Gvest Global or its related companies. Always verify investment platforms through the SEC to protect your hard-earned money. Investing in legal and registered companies is the best way to grow your money safely without falling into the traps of scams like Gvest Global.
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