May & Baker Nigeria Plc has disowned an unauthorised online investment scheme operating under the name “M&B Equity Stake”, warning investors and the general public against the fraudulent platform.
The pharmaceutical and consumer goods manufacturer said promotional materials for the scheme have been circulating across social media platforms, messaging applications and other digital channels, with promises of daily or guaranteed investment returns.
In a regulatory filing on the Nigerian Exchange Limited signed by Adetoun Abiru for Marina Nominees Limited, the company’s secretaries, May & Baker unequivocally dissociated itself, its subsidiaries and affiliates from the purported investment scheme.
The company said any platform, website, message, flier or individual soliciting funds under the guise of May & Baker Nigeria Plc is unauthorised and did not originate from the company.
It urged members of the investing public to disregard such communications and avoid making payments or disclosing personal or financial information in response to them.
The company also advised anyone who encounters the fraudulent scheme to report the activity to the appropriate authorities.
May & Baker further clarified that it is not currently conducting any Rights Issue, Public Offer or other capital-raising exercise involving public solicitation.
The company said any future capital-raising exercise would be communicated formally through its authorised channels and conducted in line with applicable laws, regulations and the requirements of the Nigerian Exchange Limited and other relevant regulatory authorities.
The manufacturer urged shareholders, customers, employees and members of the public to remain vigilant and verify corporate announcements through its official communication channels before taking any investment action.
The warning comes amid continued concerns over corporate identity theft and digital impersonation targeting investors in Nigeria’s capital market.
Fraudsters have increasingly used the names, logos, executive profiles and corporate identities of established companies to promote unauthorised investment platforms, often promising unusually high or guaranteed returns.
Regulators, including the Securities and Exchange Commission, have repeatedly cautioned retail investors against unlicensed investment platforms and social media schemes that solicit funds without regulatory approval.
May & Baker Nigeria Plc, which is listed on the NGX healthcare sector, is one of Nigeria’s pioneer pharmaceutical manufacturing companies.
By publicly distancing itself from the purported “M&B Equity Stake” scheme, the company is seeking to protect investors from potential financial losses and prevent the misuse of its corporate identity.
