Nigeria’s Securities and Exchange Commission (SEC) warns the public against investing in an online platform known as WayvePay, describing it as unregistered to solicit investments. The regulator says the platform is linked to suspected fraudulent activities and that Nigerians should avoid dealing with it.
Multiple outlets report that the SEC has disowned WayvePay and cautions that engaging with unregistered or unregulated entities exposes investors to risks, including fraud and potential loss of funds. One report also frames the SEC’s clarification of WayvePay’s registration status in relation to broader investment-related claims circulating online.
Across the coverage, the core focus is the SEC’s public notice and the regulator’s position that WayvePay lacks the required authorization to operate as an investment solicitation platform. The articles do not present details on any specific victims or legal actions, but they consistently emphasize the SEC’s advisory to the public to protect against financial harm.
