SEC Warns Public Against Silverkuun Investment Scheme, Labels It Unregistered
By Temitope Aina – May 28, 2025
The Securities and Exchange Commission (SEC) of Nigeria has issued a stern warning to Nigerians against investing in Silverkuun Investment Cooperative Society and Silverkuun Limited, describing both as unregistered and unauthorized entities in the Nigerian capital market.
In a circular released on Wednesday, the Commission clarified that the two firms were not licensed to act as investment advisers or fund managers, despite falsely promoting themselves as such.
“Silverkuun is not registered to operate in any capacity within the Nigerian capital market,” the SEC stated.
The regulatory body urged the public to avoid all transactions with Silverkuun and its representatives, citing the high risk of fraud and potential loss of funds.
SEC Cracks Down on Investment Fraud
SEC’s Director-General, Emomotimi Agama, emphasized that the Commission would not hesitate to shut down illegal operations and prosecute promoters of such schemes under the new Investment and Securities Act (ISA) 2025.
“We will shut down their operations, and the promoters will face the full weight of the law,” Agama warned.
He also revealed that digital assets, including virtual asset service providers and exchanges, are now under SEC’s regulatory control, requiring mandatory registration.
Protecting Investors Through Education and Enforcement
To safeguard Nigerians, the SEC is also ramping up efforts in financial literacy, targeting both young people and the general public through:
- Podcasts and digital awareness campaigns
- Capital market education in schools and universities
- A public portal to verify registered investment entities
The Commission reiterated that investing in unregistered schemes increases vulnerability to scams and advised all prospective investors to verify companies via the official SEC portal before making any financial commitments.
