Nigeria, Oct. 10 -- The Securities and Exchange Commission (SEC) has warned Nigerians against investing through WayvePay, an online investment platform it said was not registered to solicit investments from the public or operate in any capacity in the Nigerian capital market.

The commission issued the warning in a statement, titled "Suspected Fraudulent Activities of WayvePay", on Friday.

According to SEC, WayvePay operates through a website and various social media platforms, as well as a mobile application.

"The Commission hereby informs the public that WAYVEPAY is not registered by the Commission to solicit investments from the public or operate in any capacity within the Nigerian capital market," the commission stated.

The regulat...