Regulatory Alerts2025-06-17
SEC Alert on Unauthorized ZUGACOIN and SAMZUGA GPT
The Nigerian Securities and Exchange Commission has declared that ZUGACOIN and SAMZUGA GPT are unregistered, unauthorized meme coins not approved for public issuance in the Nigerian capital market. Preliminary investigations indicate these assets lack intrinsic value and tangible backing, making them highly susceptible to promoter-driven pump-and-dump schemes. Investors are advised to purchase or promote these coins at their own risk and must verify the registration status of promoters and trading platforms through the Commission’s official fintech portal before investing.
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