May & Baker Nigeria Plc, country's pioneer pharmaceutical manufacturing company, has issued a public warning disowning an unauthorised online investment scheme operating under the name “M&B Equity Stake”.
The pharmaceutical and consumer goods manufacturer alerted retail investors and the general public that promotional materials for the fraudulent scheme have been circulating across social media platforms, messaging applications, and digital channels, promising daily or guaranteed returns.
In a regulatory filing on the Nigerian Exchange Limited signed by Adetoun Abiru for Marina Nominees Limited, Company Secretaries to May & Baker, the firm unequivocally dissociated itself, its subsidiaries, and affiliates from the scheme.
“The company hereby unequivocally dissociates itself, its subsidiaries, and affiliates from the purported ‘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 statement read in part.
The board clarified that any platform, website, message, flier, or individual soliciting funds under the guise of May & Baker Nigeria Plc is unauthorised and did not emanate from the company.
“The investing public is strongly advised to disregard such communications, refrain from making any payment or disclosing personal or financial information in response to them, and report any such fraudulent activity to the appropriate authorities,” the notice added.
May & Baker further confirmed that it is not currently undertaking any Rights Issue, Public Offer, or capital-raising exercise involving public solicitation.
“Any future capital-raising exercise will be formally communicated through the company’s authorised channels and conducted in accordance with applicable laws, regulations, and the requirements of the Nigerian Exchange Limited and other relevant regulatory authorities,” the corporate filing stated.
The firm urged shareholders, customers, employees, and members of the public to remain vigilant and verify all corporate announcements directly through its official communication touchpoints before taking any investment action.
The disclaimer by May & Baker highlights a persistent surge in corporate identity theft and digital impersonation targeting listed equities on the Nigerian Exchange. Regulators, including the Securities and Exchange Commission, have repeatedly warned retail investors against unlicensed online platforms and social media syndicates leveraging the logos, executive profiles, and corporate goodwill of established brands to float high-yield Ponzi schemes.
Listed on the NGX under the healthcare sector, May & Baker Nigeria Plc remains one of the country’s pioneer pharmaceutical manufacturing outfits.
By issuing an immediate regulatory clarification, the company moves to insulate its market standing, safeguard retail capital, and prevent financial exposure among its primary investing public.
