The Nigeria Securities & Exchange Commission issued a public warning that Forsman & Bodenfors LTD, also known as F&B, is not registered with the Commission and is not authorised to solicit funds from the public or operate in any capacity in the Nigerian capital market. Preliminary investigations indicate that its operations display typical indicators of a fraudulent (Ponzi) scheme, including promises of automatic employment linked to recruiting additional members. The alert states that the entity is being presented by its promoters as the Nigerian branch of a Swedish advertising company of the same name and that prospective members are lured into paying various sums for different positions. The scheme has been actively promoted on social media platforms and online forums; the public was advised to refrain from engaging with F&B or its representatives and to verify the status of firms offering investment opportunities via the Commission’s portal before transacting.

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