The Securities and Exchange Commission (SEC) has revealed that Nigerians lost an estimated N300.2 billion to fraudulent investment schemes in recent years.
Head of Fintech and Innovation Department at the SEC AbdulRasheed Dan-Abu, disclosed this during the 2025 Journalists Academy organised by the Commission in Abuja on Thursday.
Dan-Abu said the figure was compiled from investigations into some of Nigeria’s most notorious Ponzi and illegal investment schemes, which have devastated households and small investors across the country.
According to him: “The losses, drawn from investigations into some of the country’s most notorious Ponzi and illegal investment schemes, reveal the devastating financial and social impact of these operations on households and small investors.
“The SEC’s estimates cover several collapsed schemes that had promised investors extraordinarily high and unsustainable returns.”
(The Nation)
