Nigeria’s Securities and Exchange Commission (SEC) has closed over 400 illegal investment schemes nationwide in the past three years, ramping up enforcement to shield capital market participants.
Speaking on Tuesday 17th March, 2026 at the Nairametrics ‘Money Fair’ financial literacy forum in Lagos—via representative Bola Ajomale, Executive Commissioner for Operations— who represented the Director General highlighted intensified crackdowns amid a surge in scams last year. Several perpetrators have faced arrest and prosecution as SEC drives toward a secure investment environment.
Key initiatives include the “See It, Snap It” campaign and “SEC Scam Alert” for quick public reporting of suspicious activities. The commission has also mandated its roughly 2,000 registered market operators to disclose their SEC status clearly.
Agama also urged Nigerians to verify both operators and products on the SEC registry before investing: “If they’re unregistered, steer clear—no legitimate business operates without our approval.”
