The Securities and Exchange Commission (SEC) has cautioned Nigerians against engaging with Gvest Global, which it described as an unregistered investment adviser and fund manager promoting illegal schemes.
The commission issued the warning in a public notice released recently.
It said the company operates under several names, including Gvest (Alausa) Cooperative Multipurpose Limited, Gvest Investment Limited, and Gtext Holdings.
According to the SEC, none of these entities is registered to solicit investments from the public or operate in any capacity in the Nigerian capital market.
The regulator said investigations showed that Gvest Global is heavily promoted on social media platforms and online forums.
It added that the company’s operations exhibit “typical indicators and characteristics commonly associated with Ponzi schemes”.
“Accordingly, the public is advised to refrain from engaging with Gvest Global, its associated entities named above or their representatives in respect of any business in the Nigerian capital market, as any person who does so is at his own risk,” SEC said.
The commission also urged investors to verify the registration status of companies and entities offering investment opportunities through its dedicated portal at www.sec.gov.ng/cmos before transacting with them.
