The Securities and Exchange Commission (SEC), has cautioned Nigerians to beware of Gvest Global as they are not registered by the Commission either to solicit investments from the public or operate in any capacity in the Nigerian capital market.
This caution follows the activities of GVEST GLOBAL, which holds itself out as an Investment Adviser/Fund Manager promoting unregistered investment schemes.
The Commission, in a statement on Thursday explained that the company Gvest Global, is also known and operate under the following names: GVEST (ALAUSA) COOPERATIVE MULTIPURPOSE LIMITED, GVEST INVESTMENT LIMITED and GTEXT HOLDINGS.
SEC said investigations have revealed that GVEST GLOBAL has been actively promoted on social media platforms and online forums. Adding that its operations exhibit typical indicators and characteristics commonly associated with Ponzi schemes.
Accordingly, the Commission advised the Public 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.
“The investing public is therefore reminded to VERIFY the registration status of companies and entities offering investment opportunities on the Commission’s dedicated portal – www.sec.gov.ng/cmos, before transacting with them,” SEC said in the statement.
