By Muhammad Sal
The Securities and Exchange Commission (SEC) of Nigeria has issued a public warning to Nigerians to desist from investing in AfriQuantumX, an online platform claiming to trade cryptocurrency and stocks, due to its unregistered status and features resembling a fraudulent Ponzi scheme.
In a statement released on October 7, 2025, the SEC clarified that AfriQuantumX is not registered to operate in Nigeria’s capital market or solicit investments from the public.
“Investigations have revealed that AfriQuantumX has been actively promoted on social media platforms and online forums. Furthermore, its operations exhibit characteristics commonly associated with fraudulent Ponzi schemes,” the regulatory body said.
The SEC cautioned that any individuals investing or engaging with AfriQuantumX do so at their own risk, warning of potential financial loss.
This warning continues a trend by the SEC to protect Nigerian investors from unregulated online investment schemes.
Earlier in 2025, the commission flagged several similar platforms, including Risevest, Pro-vest, PWAN MAX, and Silverkuun Investment Cooperative Society, all of which lacked proper registration and showed signs of fraud or risky operations.
According to the SEC, dealing with unregistered entities exposes investors to risks such as fraud and the total loss of funds without legal recourse.
The SEC urged Nigerians to always verify the registration status of any company offering investment opportunities by consulting its official portal at www.sec.gov.ng/cmos before investing.
This verification procedure is crucial amid the growing popularity of online investment platforms in Nigeria, where many unregulated operators exploit the populace’s appetite for cryptocurrencies and easy returns.
For Nigeria’s growing tech-savvy investor population, the AfriQuantumX warning underscores the importance of regulatory oversight in fostering a secure digital investment environment.
With increasing fintech adoption and digital asset interest across Africa, safeguarding investment integrity is essential to maintaining investor confidence and supporting sustainable market growth.
The SEC’s intervention serves as a timely reminder that the allure of highreturns from unregulated platforms often masks underlying risks. Nigerian investors are advised to exercise due diligence and prioritize platforms endorsed and supervised by regulatory authorities.
As digital investment trends evolve, regulators and market participants will continue to grapple with emerging threats, highlighting the need for enhanced public education and technology-enabled oversight to protect Nigeria’s vibrant investment ecosystem.
The SEC’s warning on AfriQuantumX marks another step in its commitment to shielding investors from fraudulent schemes in Nigeria’s capital market.
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