SEC Warns Influencers, Celebs Against Promoting Unverified Investments: 10-Year Jail Time Threatens Fraudsters

The Securities and Exchange Commission (SEC) is issuing a stern warning to celebrities, influencers, and bloggers against promoting unregistered investment schemes. Violators face up to 10 years in prison under the new Investment and Securities Act (ISA) of 2025. This comes after reports surfaced that several prominent figures promoted CBEX, a now-disgraced cryptocurrency platform, leading to significant losses for Nigerian investors, estimated at N1.3 trillion. SEC Director General Dr. Emomotimi Agama highlighted that the commission lacks the resources to recover lost funds from victims.