The Securities and Exchange Commission (SEC) has issued a strong warning to Nigerians against engaging with Silverkuun Investment Cooperative Society and Silverkuun Limited, citing their unauthorized operations in the capital market.
According to a circular released by the Commission on Wednesday and reported by Daily Asset, Silverkuun is presenting itself falsely as a licensed investment adviser and fund manager without proper registration or oversight.
“We will shut down their operations and the promoters will be made to face the full weight of the law,” said Dr. Emomotimi Agama, Director General of the SEC.
The SEC stated unequivocally that Silverkuun is not registered to operate in any capacity within the Nigerian capital market. As such, investors are urged to avoid any dealings with the company or its representatives.
In its advisory, the Commission noted that engaging with unregistered investment schemes exposes the public to significant financial risks, including fraud and total loss of capital.
To protect investors, the SEC recommended verifying the registration status of all investment entities through its online portal: www.sec.gov.ng/cmos.
Dr. Agama emphasized the agency’s new mandate under ISA 2025, which formally includes digital assets under SEC’s regulatory oversight. This move mandates that all virtual asset service providers and digital exchanges be registered to eliminate regulatory loopholes often exploited by ponzi-like schemes.
As part of a broader strategy to fight fraud, the SEC is also rolling out education-focused initiatives including digital literacy campaigns, podcasts, and introducing capital market awareness in schools and universities.
Article updated 3 weeks ago. Content is written and modified by multiple authors.
