Nigeria, Aug. 18 -- May & Baker Nigeria Plc has dissociated itself from the 'M&B Equity Stake' investment scheme, noting that the purported investment opportunity is fraudulent and unauthorised by the company.

The company disclosed this in a regulatory filing signed by Adetoun Abiru, Secretary of Marina Nominees Limited, on Tuesday, urging the investing public to disregard promotional materials that promise daily or guaranteed returns for the equity stake.

This followed the circulation of "fraudulent materials" through social media, messaging applications and other online platforms, purporting to offer an investment opportunity described as an "M&B Equity Stake."

"The company hereby unequivocally dissociates itself, its subsidiaries an...