The Nigerian Exchange Limited (NGX) has issued a public advisory regarding a suspected impersonator falsely claiming to be the Chief Strategist of NGX Group.

In a statement posted on its X handle on Monday, NGX warned the public about an individual named ‘Professor Adebayo Oluwatokun’ and an entity called ‘Value Gain,’ who are allegedly using a WhatsApp group titled ‘NGX GroupA7’ to deceive the public.

The statement 

“The attention of Nigerian Exchange Limited (NGX) has been drawn to the activities of certain individuals and entities, including an entity operating under the name “Value Gain” and a person identified as “Professor Adebayo Oluwatokun,” who falsely claims to be the Chief Strategist of NGX Group via a WhatsApp group named “NGX GroupA7.” These individuals and entities are fraudulently impersonating NGX.

We wish to state categorically that neither “Value Gain” nor the said “Professor Adebayo Oluwatokun” is affiliated with Nigerian Exchange Group, its subsidiaries, or any of NGX’s registered Trading License Holders. Any claims, communications, or representations made by these individuals or their associates, purporting an association with NGX, are false, misleading, and intended to deceive the public.

NGX remains steadfast in its commitment to transparency, integrity, and the protection of investors in the Nigerian capital market. We urge the public to refrain from engaging with these individuals or entities and to report such fraudulent activities to NGX and the relevant law enforcement agencies promptly.

Official communications are only disseminated via our website, www.ngxgroup.com, and our social media channels. For verification of any entity or individual claiming to represent NGX, please contact us directly via +234 (700) 225-5649 or email us at contactcenter@ngxgroup.com.

Social media handles: X (formerly Twitter) @ngxgrp   Instagram @ngxgrp   Facebook @ngxgroup.  LinkedIn.  Nigerian Exchange Group