The Securities and Exchange Commission (SEC) of Nigeria has issued a stern public warning against engaging with an online investment platform known as Glorious Wealth Fund (GWF). The regulator declared the entity as unlicensed and fraudulent, following complaints from investors who have been unable to access their funds.
SEC Exposes Fraudulent Operations
In a public advisory published on its official website on Thursday, December 4, 2025, the Commission explicitly stated that Glorious Wealth Fund, operating via the website gloriouswealthfund.com, is not registered or licensed to conduct any capital market activities in Nigeria. The SEC emphasized that any claims by GWF of being supervised, approved, or licensed by the Commission are completely false, misleading, and constitute fraud.
The advisory serves as a critical alert to the investing public, highlighting the severe risks associated with dealing with unregulated entities. "The Commission has received complaints regarding the inability of investors to withdraw their funds after making deposits on the platform," the statement revealed. It described these activities as bearing the clear hallmarks of an illegal investment scheme designed to defraud unsuspecting Nigerians.
Public Advised to Steer Clear and Verify
The SEC strongly cautioned all citizens to refrain from any dealings with Glorious Wealth Fund or its representatives. It stressed that anyone who chooses to engage with the platform does so entirely at their own peril, facing significant financial risk, including total loss of investment.
To combat such scams, the Commission reminded the public of the essential step of verification. Investors are urged to always confirm the registration status of any company offering investment opportunities through the SEC's dedicated verification portal before committing any money.
The official portal for verification is www.sec.gov.ng/cmos. The SEC reiterated that transacting with unregistered and unregulated entities in the Nigerian capital market exposes individuals to fraud and potential financial ruin.
A Pattern of Investment Scams
This warning against Glorious Wealth Fund follows a similar pattern of alerts issued by the SEC against other fraudulent schemes. Recently, the Commission also exposed the illegal activities of a company parading itself as Forsman & Bodenfors Ltd (F&B), a purported Nigerian branch of a Swedish firm.
That scheme allegedly lured victims with promises of automatic employment in exchange for recruiting new members and paying fees for various positions. These consecutive warnings underscore the regulator's ongoing battle against sophisticated financial fraud targeting Nigerian investors.
The SEC's consistent message is clear: vigilance and due diligence are non-negotiable. Before parting with hard-earned money in pursuit of high returns, Nigerians must independently verify the legitimacy of any investment platform through official channels to prevent devastating financial losses.
