The Securities and Exchange Commission (SEC) issued a stern public warning after finding 33 television stations across the country that were showing commercials for fraudulent and unauthorized investment schemes.
In a public notice dated November 24, 2025, the Commission warned Ghanaians that these schemes sometimes offer exceptionally high returns with little or no risk, a common ploy used to entice unwary participants.
It emphasized that none of the businesses behind these advertisements are authorized or licensed to operate as investment firms in the country.
Numerous local and digital TV channels are mentioned, including Advice TV, Adwumpa TV, Akyedie TV, Diamond TV, VIP TV, XTV, and Happy TV. Fraudulent schemes mentioned in these ads include ECO Cash, AirorPay, US Bank Online, Worldremit (fake), Nana Bodom, Wave Money Transfer, and Arab Money.
“The SEC hereby informs the public that it has not approved, authorised, or licensed any of the schemes being advertised on these television channels,” stated the agency.
The Securities Industry Act’s Section 144(1) and the Companies Act’s Section 294(1)(b), which forbid unregistered public invites and ads for securities-related services, are violated by operators of such schemes, according to the Commission. Criminal prosecution is a possibility for offenders.
Growing worries about financial fraud are the reason for this warning, especially in light of earlier investment scams that impacted thousands of Ghanaians.
To safeguard investor money and preserve trust in the capital market, the SEC stated that it is keeping a careful eye on the situation.
Before investing money, the public is advised to confirm the license status of any investment firm.
The Commission reiterated its dedication to protecting investors and guaranteeing an open and reliable securities market.
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Source: newsthemegh.com