By Benson Daniel
May & Baker Nigeria Plc has warned members of the public against a fraudulent investment scheme being circulated online under the name “M&B Equity Stake,” saying the offer is neither authorised nor connected to the company.
The pharmaceutical manufacturer said it became aware of promotional materials circulating through social media platforms, messaging applications and other digital channels, inviting members of the public to invest in the purported scheme with promises of daily or guaranteed returns.
May & Baker said it had completely dissociated itself, its subsidiaries and affiliates from the investment programme, stressing that anyone, platform, website, group or other communication soliciting funds in its name in connection with the scheme was acting without authorisation.
The company urged members of the investing public to disregard the offers and avoid making payments to the promoters. It also advised people not to disclose personal or financial information in response to messages associated with the purported investment opportunity.
The warning comes as fraudulent investment offers increasingly exploit the names and reputations of established companies to create a false impression of legitimacy and attract unsuspecting investors.
May & Baker further clarified that it is not currently undertaking a Rights Issue, Public Offer or any other capital raising exercise involving the solicitation of investments from members of the public.
The company said any future capital raising exercise would be formally announced through its authorised communication channels and conducted in line with applicable laws, regulatory requirements and the rules of the Nigerian Exchange.
Investors and shareholders were advised to independently verify any communication or investment opportunity purportedly linked to May & Baker before taking action.
The company also urged members of the public who encounter the fraudulent scheme or similar solicitations to report them to the appropriate authorities.
The development highlights the growing risks associated with online investment fraud, particularly schemes that use familiar corporate names and promise unusually high or guaranteed returns.
Financial experts have consistently advised investors to be cautious of unsolicited investment offers and to verify the registration and legitimacy of investment opportunities before committing funds.
For May & Baker, the public warning is aimed at protecting investors and preventing the misuse of its corporate identity as the company continues its operations as a listed entity on the Nigerian Exchange.
The company maintained that legitimate information concerning its shares, dividends, corporate actions and any future fundraising activities would be communicated through official channels.
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