Illegal Operator – CMTrading

The attention of the
Securities and Exchange Commission
(the Commission) has been drawn to the activities of an online platform known as CMTRADING , which holds itself out as a cryptocurrency and commodities trading platform. The platform claims to be licenced as GCMT SOUTH AFRICA PTY LTD by the Financial Sector Conduct Authority (FSCA) of South Africa and as a securities dealer by the Financial Services Authority (FSA) of Seychelles. The platform uses cloned websites of reputable media houses such as the Punch Newspaper, Vanguard Newspaper, BBC, Channels Television and Arise Television to attract unsuspecting victims. It also posts cloned videos and pictures of prominent Nigerians on social media, promising monetary benefits to subscribers. The Commission hereby informs the public that the CMTRADING is NOT REGISTERED by the Commission either to solicit investments from the public or operate in any capacity within the Nigerian capital market. Investigations have revealed that CMTRADING ’s operations exhibit the typical indicators of a fraudulent Ponzi scheme, including the promise of unusually high returns, heavy reliance on a referral system to sustain pay-outs and desperate requests for subscribers to fund accounts. Accordingly, the public is advised to be cautious about investing with CMTRADING , as any person who engages with the entity or its representatives does so at his/her own risk. The Commission similarly reminds potential investors of the need to VERIFY the registration status of investment platforms via the Commission’s dedicated portal:
https://home.sec.gov.ng/fintech-and-innovation-hub-finport/registered-fintech-operators or www.sec.gov.ng/cmos before transacting with them. SIGNED MANAGEMENT June 16, 2025