The Nigerian Exchange Limited (NGX) has cautioned the public about the antics of an alleged impersonator, ‘Professor Adebayo Oluwatokun,’ and a purported organization, ‘Value Gain’, who were reportedly exploiting the trust of investors by falsely claiming affiliation with the NGX.
The Exchange, in a statement posted via its verified official X handle on Monday, stated that both the ‘Prof’ and the organization were allegedly operating a deceptive WhatsApp group, ‘NGX GroupA7’, with a view to misleading and manipulating unsuspecting individuals to invest in the local bourse.
The NGX management categorically stated that neither ‘Professor Adebayo Oluwatokun’ nor ‘Value Gain’ had any association with the Exchange or its subsidiaries, nor are they registered Trading Licence Holders.
The Exchange stated: “The attention of Nigerian Exchange Limited (NGX) has been drawn to the activities of certain individuals and entities, including an entity operating under the name “Value Gain” and a person identified as “Professor Adebayo Oluwatokun,” who falsely claims to be the Chief Strategist of NGX Group via a WhatsApp group named “NGX GroupA7.” These individuals and entities are fraudulently impersonating NGX.
“We wish to state categorically that neither “Value Gain” nor the said “Professor Adebayo Oluwatokun” is affiliated with Nigerian Exchange Group, its subsidiaries, or any of NGX’s registered Trading License Holders. Any claims, communications, or representations made by these individuals or their associates, purporting an association with NGX, are false, misleading, and intended to deceive the public.
“NGX remains steadfast in its commitment to transparency, integrity, and the protection of investors in the Nigerian capital market. We urge the public to refrain from engaging with these individuals or entities and to report such fraudulent activities to NGX and the relevant law enforcement agencies promptly”, it added.
