SEC Nigeria Flags Voya Investment Management Over Fake Certificate and Fraud Complaints

The Securities and Exchange Commission (SEC), Nigeria, has issued a public warning against an online investment platform operating under the name Voya Investment Management (VIM), via the website https://investmemts.voya.com (currently inaccessible).

According to the Commission, VIM falsely claimed to offer investment services in Nigerian stocks and other financial instruments under SEC supervision. The platform also displayed a fake certificate of identity verification, falsely claiming to be issued by the SEC Nigeria.

Key Points from SEC Nigeria’s Warning

• Unregistered Entity: VIM is not licensed or registered by the Commission to conduct any capital market activity.
• Fake Certificate: The certificate displayed by VIM was neither issued nor endorsed by SEC Nigeria. The Commission does not issue certificates of identity verification.
• False Claims: Claims by VIM that it is supervised, licensed, or approved by SEC Nigeria are false, misleading, and fraudulent.
• Fraudulent Activity: Complaints received by SEC Nigeria indicate that VIM’s operations bear the hallmarks of illegal investment schemes designed to defraud unsuspecting investors.

SEC Nigeria strongly advises the public to avoid dealing with Voya Investment Management. Engaging with unregistered entities exposes investors to serious financial risks, including fraud and potential loss of funds.

The Commission reminds investors to verify the registration status of any company or platform before committing to investment opportunities in the Nigerian capital market.

In early December last year, SEC Nigeria warned against the online investment platform Glorious Wealth Fund (GWF), which also falsely claimed to operate under the Commission’s supervision.