SEC Nigeria USSD Code to enable investors to verify operators on mobile without internet, enhancing protection and curbing Ponzi schemes under ISA 2025

Access to the SEC Nigeria USSD Code will soon let Nigerians verify investment operators via mobile, without needing internet access.

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The Securities and Exchange Commission (SEC) says the new identification tool will curb unlicensed investment schemes and bolster investor protection.

Dr Emomotimi Agama, SEC Director‑General, announced the system’s launch ahead of the next Capital Market Committee meeting.

“Anyone with a mobile phone can instantly verify whether someone is a registered capital market operator,” he said.

The tool uses Unstructured Supplementary Service Data (USSD), which works on all phones.

Investors will dial a simple code and enter a name or company to confirm registration with SEC. It targets Ponzi promoters and fraudulent groups that have caused losses nationwide.

Agama emphasised that mere registration with the Corporate Affairs Commission (CAC) is no substitute for SEC approval.

Under the new Investments and Securities Act 2025, penalties for unregistered investment promotion include fines up to ₦1 billion and ten years imprisonment. Promoters and endorsers alike risk liability.

This is the strongest stance Nigeria has ever taken against Ponzi schemes.

The SEC will also collaborate with schools via the Nigerian Educational Research and Development Council to boost financial literacy.

Interactive tools, including games, will help young people learn about secure investments before adulthood.

Agama credited the SEC Nigeria USSD Code as part of a broader campaign to promote investor confidence.

He noted that the SEC continues coordinating with other agencies to raise awareness about legitimate investment platforms and discourage unrealistic returns.

Investors are urged to verify offers via SEC’s official channels before committing funds. The tool will be formally activated during the committee meeting this quarter.

Agama concluded, “We remain resolute in protecting investors and strengthening trust in Nigeria’s capital market.”

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With this new system and ISA 2025 powers, SEC Nigeria sends a clear warning: investment fraud will not be tolerated.