May & Baker warns investors against fraudulent investment scheme

May & Baker Nigeria Plc has warned against fraudulent investment schemes described as M&B Equity Stake, which are being circulated on the internet and promising daily or guaranteed returns.

May & Baker disclosed this in a statement signed by Mrs Adetoun Abiru, for Marina Nominees Limited, the Company Secretary.

The Company urged the public to watch out for the investment opportunity scheme impersonating the company.

In the statement disassociating itself from what it describes as a fraudulent scheme, the company also dissociated its subsidiaries and affiliates from the

M&B Equity Stake investment scheme and any person, platform, website, group, publication or other communication promoting or soliciting funds in connection with the scheme.

The company also warned that any person, platform, flier, message, website or other communication soliciting funds in the name of the company in connection with an M&B Equity Stake or similar investment opportunity is unauthorised and not issued by or on behalf of the company and should be treated as fraudulent.

The company further confirmed that it is not currently undertaking any Rights Issue, Public Offer or other capital-raising exercise involving the solicitation of investments from the public.

While assuring transparency, the company said:  “Any future capital-raising exercise will be formally communicated through the company’s authorised communication channels and conducted in accordance with applicable laws, regulations and the requirements of the Nigerian Exchange Limited and other relevant regulatory authorities.”

The company urges shareholders, customers, employees and members of the general public to remain vigilant and to verify any so-called investment opportunity or communication relating to the company through its official communication channels before taking any action.