Nigerian Exchange Limited (NGX) has issued a strong public advisory warning investors and the general public to be vigilant as fraudulent groups and individuals continue to circulate misleading information online while falsely claiming affiliation with the Exchange.
The alert, released through NGX’s verified communication channels, underscores growing concerns about the surge in impersonation schemes aimed at exploiting unsuspecting members of the investing community.
According to the Exchange, several online platforms and groups have recently emerged under misleading names such as Investment Club, Glorious Wealth Fund, and 6008 Daily Stock Picks.
While these entities portray themselves as being connected to NGX or acting on its behalf, the Exchange stated categorically that none of them is affiliated with the organisation in any form.
NGX noted that the impersonators often use deceptive tactics, including sharing investment advice, soliciting funds, or promising insider information, all of which pose significant risks to the public.
In the statement, NGX emphasised that investor safety remains its utmost priority. As part of its mandate, the Exchange maintains high standards of transparency, disclosure, and investor protection.
It said the proliferation of these fraudulent platforms threatens not only the financial security of individuals but also the integrity of the broader capital market.
“Your safety is our priority,” NGX noted, while urging the public to immediately disengage from any platform or individual making unverified claims of association with the Exchange.
The organisation also encouraged investors to remain cautious and to verify information through official channels before making financial decisions. NGX reiterated that authentic updates, announcements, and market information are shared exclusively through its certified communication outlets and official website.
Members of the public were further advised to report suspicious activity promptly to aid ongoing efforts to curb financial fraud in the market.
The Exchange concluded by calling for collective responsibility in safeguarding the Nigerian capital market from fraudulent actors. “Let’s keep the market safe together,” the statement added, highlighting the need for collaboration between regulators, investors, and the public in maintaining a secure and trustworthy financial ecosystem.
The latest alert comes amid a broader trend of digital impersonation and online investment scams globally, reinforcing the importance of due diligence as more investors turn to online channels for financial information.
Culled from Tribune