SEC CLARIFIES VOYA INVESTMENT IS NOT AUTHORIZED TO OPERATE IN CAPITAL MARKET

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By: Fasasi Hammad

The Securities and Exchange Commission (SEC) has cautioned the public against engaging with Voya Investment Management (VIM), an online investment platform operating through its website, investmemts.voya.com.

In a notice issued on Wednesday, the commission described VIM’s claims of being licensed or supervised by the SEC as false and misleading.

“The operators of this platform claim to offer investment services in Nigerian stocks and other financial instruments purportedly under the supervision of the Commission,” the SEC said.

The commission added that Voya Investment Management has been presenting a certificate of identity verification, claiming it was issued by the SEC. “The certificate being paraded by VIM was neither issued nor endorsed by the SEC. The Commission does not issue certificates of identity verification,” it stated.

The SEC further warned that VIM’s assertions of being supervised, licensed, or approved by the Commission are fraudulent. Complaints received indicate that the company is operating an illegal investment scheme capable of defrauding unsuspecting members of the public.

“Accordingly, the public is advised to refrain from dealing with Voya Investment Management, as any person who engages with the entity or its representatives does so at his or her own risk,” the notice read.

Investors are urged to verify the registration status of companies via the SEC portal at www.sec.gov.ng/cmos before investing, as dealing with unregistered entities exposes them to financial risks, including fraud and loss of funds.

The SEC had issued a similar warning in December 2025 against Glorious Wealth Fund (GWF), another unlicensed online investment platform.