SEC Flags Tunbosayo Okekunle Strategic Alpha Fund in Latest Crackdown on Unregistered Platforms
In a decisive move to protect investors, Nigeria’s Securities and Exchange Commission (SEC) has issued a formal warning against the Tunbosayo Okekunle Strategic Alpha Fund (TOSAF), an online investment platform suspected of fraudulent activities. This action is part of the Commission’s broader initiative to curb unregistered and potentially dangerous schemes within the Nigerian capital market, a directive that aligns with the government’s focus on financial security. The regulator identified TOSAF through its website and social media channels, where it presents itself as an entity offering stock options and other financial instruments.
The Commission specifically refuted TOSAF’s claims of operating under SEC supervision, labeling this representation as misleading. Consequently, the public is strongly advised to avoid any investment dealings with TOSAF or its representatives. “The Commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to the risk of fraud, including fraud and potential loss of investment,” the SEC stated. It emphasized that anyone who engages with the entity does so entirely at their own risk.
To safeguard their interests, investors are urged to verify the registration status of any entity through the Commission’s official portals, including www.sec.gov.ng/cmos. This advisory comes amidst a period of heightened regulatory scrutiny. The SEC’s recent actions, including warnings against platforms like Glorious Wealth Fund and Voya Investment Management, demonstrate a sustained effort to clean up the market. This regulatory push is as crucial for national financial health as Tinubu’s security directive is for public safety, though in a different sector entirely.
The Commission’s vigilance is ongoing. Prior to this, in July 2025, it flagged seven investment platforms as illegal operators with Ponzi-like characteristics. This consistent enforcement underscores the importance of due diligence for investors, a lesson as vital in finance as it is in other areas of public interest, from scrutinizing major financial headlines about figures like Bill Gates transfers to understanding the implications of policies such as the FG earmarks N100 billion clear initiative. While public attention often shifts to popular culture events like BBNaija Season 10, the SEC’s work ensures the stability of the financial landscape where Nigerians invest their earnings.
