SEC says Voya Investment Not Licensed to Operate in Capital Market

The Securities and Exchange Commission (SEC) has warned the public against transacting with Voya Investment Management (VIM), an online investment platform.

SEC said Voya operates through its website, investmemts.voya.com.

In a notice issued on Wednesday, the commission said the firm’s claims of being licensed or supervised by the SEC are false and misleading.

“The operators of this platform claim to offer investment services in Nigerian stocks and other financial instruments purportedly under the supervision of the Commission,” the commission said.

“Voya Investment Management is also parading a certificate of identity verification purportedly issued by the Commission.

“The Commission hereby informs the public that Voya Investment Management (VIM) is NOT REGISTERED or licensed by the Commission to carry out any activity in the Nigerian capital market.

“The certificate being paraded by Voya Investment Management was neither issued nor endorsed by the SEC, Nigeria as the Commission does not issue certificates of identity verification.

“Furthermore, claims by VIM that it is supervised, licensed, or approved by the Commission to undertake operations in the capital market are false, misleading and fraudulent.”

The SEC said complaints received regarding VIM’s activities indicate that the company is operating an illegal investment scheme capable of defrauding unsuspecting members of the public, particularly through misleading claims of regulatory approval.

“Accordingly, the public is advised to refrain from dealing with Voya Investment Management (VIM), as any person who engages with the entity or its representatives does so at his/her own risk,” the commission reiterated.

The SEC also urged investors to verify the registration status of companies on its portal via www.sec.gov.ng/cmos before investing, warning that engaging with unregistered entities exposes investors to significant financial risks, including fraud and potential loss of funds.

In December 2025, the commission similarly warned Nigerians against transacting with an online investment platform known as Glorious Wealth Fund (GWF).