The Securities and Exchange Commission (SEC) has entered into a strategic partnership with the Nigeria Police Force to intensify efforts against illegal investment scheme operators, Ponzi promoters, and cryptocurrency fraudsters across the country.
The collaboration was announced following a high-level meeting in Abuja between the Director-General of the SEC, Dr. Emomotimi Agama, and the Inspector-General of Police, Kayode Egbetokun, as part of a coordinated approach to protect investors and strengthen confidence in Nigeria’s capital market.
According to the SEC, the partnership is aimed at closing the enforcement gap that has allowed unregistered and fraudulent investment platforms to thrive. Many of these operators reportedly disguise their activities as cryptocurrency trading, foreign exchange investments, or digital asset schemes while offering unrealistic returns to unsuspecting members of the public.
Under the arrangement, both agencies will collaborate on intelligence sharing, joint investigations, and coordinated enforcement actions. Plans are also underway to establish a dedicated joint task force and strengthen cooperation with the Police Cybercrime Unit to address the growing use of digital platforms for financial fraud.
Speaking on the initiative, the SEC noted that illegal investment schemes pose serious risks to financial stability and public trust, emphasizing the need for swift and decisive law enforcement action against perpetrators. The Commission also highlighted the importance of public awareness, urging Nigerians to verify investment opportunities and deal only with licensed operators.
The Nigeria Police Force reaffirmed its commitment to supporting the SEC in enforcing capital market laws and prosecuting offenders. The Police leadership stated that the partnership would enhance the detection and prosecution of financial crimes, particularly those involving digital assets and online fraud.
The joint effort signals a tougher regulatory and enforcement stance against financial crimes and serves as a warning to illegal scheme operators that authorities are increasing scrutiny and coordination to safeguard investors and the integrity of Nigeria’s financial system.
