The bustling stalls of Wuse Market, Abuja, were met with an unusual sight today as the Management and staff of the Securities and Exchange Commission (SEC) descended upon the marketplace for a massive sensitization campaign against Ponzi schemes and illegal investment platforms.
Armed with banners, flyers, branded T-shirts, and an unrelenting message, the SEC team moved through the busy alleys, engaging traders, artisans, and shoppers one-on-one. Their goal was clear: to spread awareness about the dangers of Ponzi schemes and unregistered investment programs that have devastated countless lives across the country.
Chanting slogans like “#SayNoToPonzi,” “#RunFromWuruwuruInvestments,” and “#PonziFitKpaiPerson,” the team used relatable language to capture the attention of everyday Nigerians. They explained that if an investment sounds too good to be true, it probably is — and emphasized the importance of verifying any investment opportunity with the SEC before parting with hard-earned money.
For many traders, the event was a timely eye-opener. Some recounted painful experiences of losing their life savings to fraudulent schemes that promised unbelievable returns in record time. Mrs. Folake Adebayo, a fabric seller, recalled investing in a “miracle” platform two years ago. “I saw my friend double her money in one month and thought it was real,” she said, tears welling in her eyes. “But by the time I put all my profit into it, the platform vanished. I am still paying debts from that mistake.”
The SEC officials encouraged the market community to be skeptical of “wuruwuru” investments that operate without regulation, pointing out that legitimate fund managers must be registered and transparent. They also taught people how to check the SEC’s website or call their hotlines to verify if an investment platform is licensed.
Reflecting on the day’s activity, Mr. Emomotimi Agama, Director-General of the SEC, who led the campaign, stated, “Ponzi schemes are economic terrorism. They prey on trust, greed, and ignorance. Our mission today was simple: educate, empower, and protect the public. One less victim is one more strong family and a stronger economy.”
As the SEC team wrapped up their market walk with chants of “Run from Wuruwuru!” echoing behind them, the impact was clear. Conversations among traders shifted from bargaining prices to cautioning each other about dubious investment opportunities.
The visit to Wuse Market serves as a vivid reminder that the fight against financial scams is not won in boardrooms but on the streets, in the markets, and within communities — where awareness can turn potential victims into informed defenders of their financial futures.
The Securities and Exchange Commission has vowed to continue such grassroots campaigns across Nigeria until every citizen knows:
“If you no sabi am, no put money for am!”
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