The Securities and Exchange Commission (SEC) has issued a stern public warning against investing in an online platform known as Glorious Wealth Fund (GWF), describing its operations as illegal and potentially fraudulent.
In a statement released on Thursday, the Commission said GWF, which operates through the website gloriouswealthfund.com, is neither registered nor licensed to provide any capital market services in Nigeria. Despite this, the platform has been advertising investment opportunities in Nigerian stocks and other financial instruments.
The SEC cautioned that such unregulated platforms pose significant risks to investors, stressing that Nigerians should only engage with entities duly registered with the Commission. “Any person dealing with GWF does so at their own risk,” the statement read, underscoring the regulator’s commitment to protecting the investing public.
This latest alert adds to a growing list of warnings issued by the SEC in 2025 against suspected fraudulent companies attempting to lure unsuspecting Nigerians with promises of high returns. The Commission has repeatedly emphasized that investors must verify the registration status of any firm before committing funds.
Industry analysts note that the rise of online investment schemes has made vigilance more critical than ever, as fraudsters increasingly exploit digital platforms to reach wider audiences.
