The Securities and Exchange Commission (SEC) has issued a strong warning to Nigerians, urging them to stay clear of Pocket Options, a platform acting as an investment adviser and fund manager without regulatory approval.
In an official statement, the SEC revealed that Pocket Option is neither registered nor licensed to operate in Nigeria’s capital market. Worse still, investigations reveal that its exhibitions show traits of fraudulent Ponzu schemes.
“Investigations reveal that POCKET OPTION has been actively promoted on social media platforms and online forums. Its operations exhibit the typical indicators of a fraudulent (Ponzi) scheme.
The Commission hereby informs the public that POCKET OPTION is NOT REGISTERED by it nor authorised to solicit investments from the public or to operate in any capacity in the Nigerian capital market,” the SEC stated.
The commission advised the public to refrain from engaging with Pocket Option or any of its representatives. Nigerians are urged to avoid the platform and protect their finances.
SEC further advised investors to verify the registration status of any company or entity offering investment opportunities directly through its official portal before parting with their money.
