BUA Group disowns AI-generated scam video linking chairman to investment scheme

BUA Group has cautioned the public against a fraudulent artificial intelligence (AI)-generated video circulating on social media that falsely depicts its founder and executive chairman, Abdul Samad Rabiu, endorsing an investment platform promising unrealistic financial returns.

“Our attention has been drawn to an AI-generated video in circulation on social media platforms, promising the general public unrealistic investment returns, and purportedly showing our Founder/Executive Chairman as promoting the platform, which is targeted at luring unsuspecting members of the public,” the statement read.

The conglomerate firmly denied any connection to the platform or the claims being promoted in the video, distancing both its leadership and subsidiaries from the scheme.

“We wish to clearly state that neither our Founder/Executive Chairman, Abdul Samad Rabiu (CFR, CON), BUA Group nor any of our subsidiaries, is in any way or by any means associated/connected with this platform nor its purported investment promise,” the company stated.

BUA urged members of the public to disregard the video and avoid engaging with any individual or organisation promoting investment opportunities linked to the campaign.

“Members of the public are advised to disregard this video with its messaging and refrain from engaging with any platform or individual promising unrealistic returns in reference to the platform or its campaign,” the statement added.

The company also called on Nigerians to report such fraudulent activities to the appropriate authorities.

“Such platforms/individuals should be reported to relevant and appropriate law enforcement agencies,” the company said.

The warning comes amid rising concerns over the growing use of artificial intelligence technology to create highly convincing fake videos and endorsements involving prominent individuals and reputable organisations, often used to promote fraudulent schemes.