May & Baker Warns Nigerians Over Fake Investment Scheme

(May & Baker. Photo Credit: Premuim Times)

May & Baker Nigeria Plc has formally disassociated itself from an “M&B Equity Stake” investment scheme, characterising the purported investment opportunity as fraudulent and unauthorised by the company.

The pharmaceutical and consumer goods manufacturer issued the statement through a regulatory filing, urging the investing public to disregard promotional materials circulating through social media, messaging platforms and online channels that promise daily or guaranteed returns associated with the equity stake.

The company stressed that any individual, platform, website, group, communication channel or publication promoting or soliciting funds in connection with the scheme lacks authorisation and does not represent the company.

It advised Nigerians to dismiss all such communications, refrain from making payments or disclosing personal financial information in response to the purported investment materials, and report fraudulent activities to appropriate authorities.

The company confirmed it is not currently undertaking any rights issuance, public offering or capital-raising exercise involving public investment solicitation.

Any future capital-raising activities will be formally communicated through authorised company channels in accordance with applicable regulations and Nigerian Exchange Limited requirements.

The manufacturer urged shareholders, customers, employees and the general public to exercise vigilance and authenticate any purported investment opportunity or company-related communication through official channels prior to taking action.