Nigeria’s Securities and Change Fee (SEC) has issued a public warning in opposition to a web based funding platform referred to as Tunbosayo Okekunle Strategic Alpha Fund (TOSAF) over suspected fraudulent actions.
The Fee disclosed this in a public discover issued by its administration.
The warning comes amid broader efforts by regulators to curb unregistered funding schemes in Nigeria’s capital market.
Based on the SEC, its consideration was drawn to TOSAF’s actions via its web site and numerous social media platforms, the place it presents itself as an funding platform providing inventory choices and different {financial} devices.
The Fee said that the platform claims to function below its supervision, a illustration the regulator described as deceptive.
The SEC warned members of the general public to keep away from any type of funding dealings with TOSAF or its representatives.
“Accordingly, the general public is suggested to chorus from investing with the mentioned TUNBOSAYO OKEKUNLE STRATEGIC ALPHA FUND or any of its consultant/agent in respect of any enterprise pertaining or regarding the Nigerian capital market as any one that engages with the entity or its representatives does so at his/her personal threat.”
“The Fee makes use of this medium to reiterate that transacting within the Nigerian Capital Market with unregistered and unregulated entities exposes buyers to the chance of fraud, together with fraud and potential lack of funding,” they said.
Primarily based on these findings, the Fee suggested the general public to keep away from any dealings with the platform or its representatives, warning that anybody who engages with it does so at their very own threat.
To do that, buyers are inspired to examine the Fee’s official verification portals or www.sec.gov.ng/cmos to make sure that the entity is duly registered and authorised to function inside the Nigerian capital market
SEC has continued to widen its crackdown on unregistered funding schemes, warning that platforms reminiscent of Superb Wealth Fund are working with out licences and pose potential fraud dangers to buyers.
In July 2025, the Fee flagged seven funding platforms as unlawful operators working schemes with Ponzi-like traits. In December, the SEC once more cautioned Nigerians in opposition to different on-line platforms, together with Superb Wealth Fund, stating that it operates with out a licence to supply capital market providers and describing it as doubtlessly fraudulent.
Most lately, the Fee warned the general public in opposition to partaking with a web based funding platform working below the title Voya Funding Administration, often known as VIM, over suspected fraudulent actions.
