Lagos, Nigeria – The Securities and Exchange Commission (SEC) has issued a public warning against Silverkuun Investment Cooperative Society and Silverkuun Limited, confirming neither entity is registered to operate in Nigeria’s capital markets. In a Wednesday circular, the regulator alerted citizens to the groups’ false claims of being licensed investment advisers.
“Transacting with unregistered entities exposes investors to fraud and potential loss,” the SEC stated, directing the public to verify companies through its portal before investing. SEC DG Emomotimi Agama vowed enforcement: “We will shut down their operations, and promoters will face the law.”
The warning coincides with SEC’s expanded mandate under the Investment and Securities Act 2025, which now classifies digital assets as securities requiring registration. Agama noted parallel efforts to boost financial literacy through schools and digital campaigns.