Securities and Exchange Commission (SEC) has declared that Voya Investment Management is not authorised to operate in Nigeria’s capital market and has cautioned the public against engaging with the platform.
Gatekeepers News reports that in a notice issued on Wednesday, the commission said Voya Investment Management, which operates online through investmemts.voya.com, is neither registered nor licensed to provide investment services in Nigeria. SEC stated that claims by the company that it is approved or supervised by the regulator are false and misleading.
SEC said, “The Commission hereby informs the public that Voya Investment Management (VIM) is NOT REGISTERED or licensed by the Commission to carry out any activity in the Nigerian capital market.”
It added that the certificate of identity verification being displayed by the firm was not issued or endorsed by the commission, noting that the SEC does not issue such certificates.
According to the regulator, complaints received from members of the public suggest that Voya Investment Management is running an illegal investment scheme and may be targeting unsuspecting investors through claims of regulatory backing. The SEC warned that such practices are commonly associated with fraudulent investment operations.
The commission advised Nigerians to avoid all dealings with Voya Investment Management, stressing that anyone who transacts with the platform or its representatives does so at personal risk.
It also reminded investors to always verify the registration status of investment companies through their official verification portal before committing funds.
SEC said the warning is part of its ongoing efforts to protect investors and curb the activities of unregistered investment platforms, recalling that similar public alerts were issued in recent months against other online schemes operating outside regulatory approval.
