Nigeria’s Securities and Exchange Commission (SEC) has warned that Nigerians who invest in Punisher Coin, also known as SPUN ($PUN), are at risk of losing their hard-earned money. The investment regulatory agency disclosed that its investigation showed that Punisher Coin is a meme coin, which is characterised by pump and dump schemes. The SEC also … Read more
Thousands of Nigerians who invested in the now-collapsed Ponzi scheme, CBEX, are languishing in regret—despite similar schemes in the past and repeated warnings by Nigeria’s Securities and Exchange Commission (SEC) to steer clear of unregulated investments. MMM is a typical example. Then came Racksteli, promoted by the Nigerian singer Davido and former lawmaker Dino Melaye, … Read more
Some dubious Nigerians have devised a new way to obtain money from their colleagues and acquaintances by pretense. One such tactic involves claiming, “I’m having trouble with my bank network. Can you help me transfer N40,000 to Bright (not a real name)?” Though not a new trend, this tactic has gained momentum as the year … Read more