SEC Issues Urgent Warning To Nigerians Against Investing In Silverkuun Cooperative.
The Securities and Exchange Commission (SEC) of Nigeria has issued a stark warning to the public, urging Nigerians to avoid investing in Silverkuun Investment Cooperative Society, also known as Silverkuun Limited. The announcement, made on 28 May 2025, underscores the regulator’s concerns over the organisation’s unregistered status and its potential risks to investors.
According to the SEC, Silverkuun Investment Cooperative Society/Silverkuun Limited is not licensed to operate as an investment adviser or fund manager within Nigeria’s capital market. The commission highlighted that the entity has been soliciting public investments through various schemes, none of which have been authorised by the SEC. This lack of regulatory oversight raises significant concerns about the legitimacy of Silverkuun’s operations and the safety of investors’ funds.
“The attention of the Securities and Exchange Commission has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited, which is engaging in capital market activities by inviting the public to invest in its various investment schemes,” the SEC stated. “The Commission hereby notifies the public that Silverkuun is not registered to operate in any capacity in the Nigerian capital market, and its investment schemes have not been authorised.”
The SEC’s warning comes amid growing concerns about fraudulent investment platforms in Nigeria. The regulator cautioned that engaging with unregistered entities like Silverkuun exposes investors to the risk of fraud and potential financial loss. This advisory follows similar warnings issued earlier this year against other unregistered platforms, such as Risevest Cooperative Multipurpose Society Limited and Stecs Multipurpose Cooperative Society, which were also flagged for unauthorised operations.
Social media platforms, have been abuzz with reactions to the SEC’s announcement, with posts from outlets like Vanguard News and The Nation News amplifying the regulator’s call for caution. The SEC’s statement aligns with its broader commitment to protecting investors and maintaining transparency in Nigeria’s capital market, particularly in the wake of recent high-profile Ponzi scheme collapses, such as CBEX, which reportedly cost investors nearly N1.2 trillion.
The commission has urged Nigerians to verify the registration status of any investment platform before committing funds, directing the public to its official portal at www.sec.gov.ng/cmos for due diligence. It also provided contact details for inquiries, including a phone line (+2342094621168-9)
As Nigeria continues to grapple with economic challenges, the SEC’s proactive stance aims to safeguard citizens from unscrupulous schemes promising high returns with little risk. The regulator’s warning serves as a timely reminder for investors to exercise caution and prioritise regulated platforms to protect their financial future.
