Regulatory Alerts2024-06-14
Investor Alert – $Davido Meme Coin Disclaimer
The Securities and Exchange Commission of Nigeria has issued a formal disclaimer stating that the $Davido meme coin is not recognized as an investment product under its regulatory purview. The regulator emphasizes that the asset lacks fundamental value, remains purely speculative, and carries high risk for investors who patronize it at their own peril. Capital market operators are instructed to cease associating, distributing, or monitoring such instruments through official capital market mechanisms while the Commission continues its oversight.
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