NewStats: 3,259,445 , 8,170,126 topics. Date: Sunday, 25 May 2025 at 02:58 AM 2k5e2p

The Securities and Exchange Commission has uncovered another suspected illegal investment platform identified as TOFRO.COM (Tofro).

The commission raised the alarm in a notice on Thursday made available to journalists.

The commission warned Nigerians against falling for their tactics to obtain money from them through the promise of unusually high returns.

SEC said that the suspected investment platform holds itself out as a cryptocurrency trading platform, adding the investment scheme was not ed by the commission.

It said that based on its investigations, Tofro’s operations exhibited the typical indicators of a fraudulent Ponzi scheme.

According to the SEC, it promises unusually high returns, heavy reliance on a referral system to sustain payouts, and failure to honour withdrawal requests from subscribers.

SEC, however, strongly advised Nigerians to be wary of investing with Tofro, noting that any person who places such investment with the entity does so at their own risk.

The notice read, “The attention of the Securities and Exchange Commission has been drawn to the activities of an online platform known as TOFRO.COM (Tofro), which holds itself out as a cryptocurrency trading platform. The commission hereby informs the public that the Tofro is not ed by the commission either to solicit investments from the public or operate in any other capacity within the Nigerian capital market.

“Investigations have revealed that Tofro’s operations exhibit the typical indicators of a fraudulent Ponzi scheme, including the promise of unusually high returns, heavy reliance on a referral system to sustain pay-outs and failure to honour withdrawal requests from subscribers. Accordingly, the public is strongly advised to be wary about investing with Tofro, as any person who places such investment with the entity, does so at his/her own risk. The commission similarly reminds potential investors of the need to the registration status of investment platforms via the commission’s dedicated portal: www.sec.gov.ng/cmos before transacting with them.”

The SEC Director-General, Emomotimi Agama, said that Nigerians needed to understand the dangers of putting their hard-earned money in ventures not ed or regulated by the commission.

https://gazettengr.com/sec-alerts-nigerians-to-another-suspected-ponzi-scheme-tofro/

Hmmm

Again,Nigerians will still fall prey.

Btw the image bellow me laugh so hard

The SEC is not doing enough!

Some 18 months ago, I emailed the SEC concerning a non-bank financial institution offering investment services, they responded to me, informing me that the company does not hold a licence to carry out such services.

But to date, the company is still operational.

You don't just inform the public, you investigate, liaise with the EFCC to prosecute them and close up their shops.

Apc is also a ponzi scheme

Am longer interested in all this ponzi stuff because the end is always tears

Later dem go say government no dey proactive dem go ignore this warning now

Will they hear?

Godliness with contentment is a great gain !
This is what Bible says

make dem hear now

Another day another drama

Politicians have weaponised poverty in Nigeria that most Naija people are looking for easy way out. This is why every ponzi scheme always targets Nigerian citizens because they know greed to make it quick go make dem fall for it.

Okay another one

Like say Nigerians get excess money and like taking unnecessary risks

Fg pay salary make we invest

Dem go still put body

Be careful out there, you'll

Why can't they(EFCC ) just go after them?

E dey pay? We have developed a thick skin already since we don't have government that is ready to make life better for d masses

I invested 651 billion already

Be warned ..
And after this warning , if sec can work with efcc to nap this tofro .. I will keep saying it , the only help you could do for yourself is to learn trading and forget about this rubbish Robot trading, A I trading, trading bot etc if you like trading.. Beware of UTrading too o ..

What of forsmanwork popularly called F&B?

Arostar2023:
Why can't they(EFCC ) just go after them?

Where is their office?

wizelink:
Politicians have weaponised poverty in Nigeria that most Naija people are looking for easy way out. This is why every ponzi scheme always targets Nigerians citizens because they know greed go make dem fall for it.

From your submission, it is not politicians that is making people go for Ponzi schemes but greed.

Nigerians node hear word

Some are misled by poverty...

Some are misled by greed...

Some carelessness....

Choose your own poison carefully.

Ponzi no bad

Na u Dey invest late

🤧🤧🤧

FG or SEC never announce reach telegram.. na there headquarters dey

Since you are aware, why not freeze their s now and arrest the operators?

Don't warn them, let them recieve sense when the thing collapses.

Unlike most scams, ponzis pay some people. That makes it difficult to stop it, because in reality, some of the victims are benefiting. The only way to stop it is to let it run its course...so that folk learn by the hard way.

Na now day break

I never pray for them to listen .

omoredia:
Apc is also a ponzi scheme

Ibo man cry cry cry