Regulatory Alerts2021-12-24
SEC Warning on Poyoyo Investment (PILVEST) Nigeria Limited Activities
The Securities and Exchange Commission of Nigeria has identified Poyoyo Investment (PILVEST) Nigeria Limited as an unregistered Ponzi scheme circulating high-yield investment plans via electronic and WhatsApp messages. Preliminary investigations confirm the company operates a non-sustainable business model that pays returns from new investors' capital rather than underlying assets, despite offering monthly yields ranging from 20 to 360 percent. The Commission formally warns the public that engaging with Poyoyo Investment (PILVEST) Nigeria Limited in capital market activities carries full financial risk to the investor.
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