The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has called on Nigerians to ensure that any firm offering investment opportunities is properly registered with the commission before committing funds.

Speaking on Channels Television’s Business Morning programme on Tuesday, Agama highlighted the prevalence of fraudulent schemes in the Nigerian capital market and emphasised the role of the SEC in regulating legitimate investment activities.

“The Corporate Affairs Commission will register your business, but does not register your functionality in the Nigerian capital market,” he said. “Licences for investments and securities businesses are issued only by the SEC, not by any other body.”

Agama noted that the commission has issued over 85 advisories warning the public against fraudulent operations, including real estate scams, pump-and-dump schemes, and other unconventional investment proposals.

He warned that promoters often entice citizens with promises of unrealistic returns.

“Once somebody tells you they can give you something you know is not possible, know certainly that that is a fraud,” he said.

Citing the SEC Act, Agama explained that the commission has the statutory responsibility to regulate capital market activities in Nigeria.

He said, “Section 3(a) of the Investment and Securities Act, No. 2 2025, strictly speaks to it that the SEC regulates businesses in Nigeria, and so, it is our responsibility as a representative of the federal government to monitor and moderate the business environment.”

He added that any individual or organisation involved in securities activities without SEC registration is violating the law and encouraged investors to ask questions directly to the commission.

The SEC is expanding its presence across the country, with offices in Lagos, Kano, Port Harcourt, and its headquarters in Abuja, providing access to information around the clock.

Agama revealed that the commission is also implementing a digitisation programme to enhance investor engagement, including the development of a short code and an SEC mobile application that will allow the public to verify registered operators and make enquiries online.

On the current state of the Nigerian capital market, Agama reported that capital value has surpassed N91 trillion, reflecting improvements in governance, market infrastructure, and operator capacity. “Anyone involved in securities business without SEC registration is in violation of the law,” he reiterated.

In July, the SEC announced investigations into 79 suspected Ponzi schemes across the country, underscoring the commission’s ongoing efforts to safeguard investors and maintain a transparent and secure business environment.