LAGOS, Nigeria – The Securities and Exchange Commission (SEC) has warned Nigerians against investing in Gvest Global and its associated entities, branding them illegal operators in the capital market.
Gvest Global is owned by Stephen Akintayo, who has faced repeated controversies over his business dealings, but continues to market his investment programmes to potential clients.
In a statement on Thursday, the regulator revealed that Gvest Global presents itself as an investment adviser and fund manager but was not registered by the Commission.
Other associated names include Gvest (Alausa) Cooperative Multipurpose Limited, Gvest Investment Limited, and Gtext Holdings.
“Neither Gvest Global nor any of the above entities is registered by the Commission to solicit investments or operate within the Nigerian capital market,” the SEC stated.
It further noted that investigations showed Gvest was aggressively promoted online, and exhibits features typical of Ponzi schemes.
The Commission advised the public to desist from engaging with the firm. “Anyone who deals with Gvest Global or its representatives does so at his own risk,” it warned.
The SEC urged investors to verify company registrations via its official portal before transacting.
