May & Baker Nigeria Plc has disowned a purported investment scheme branded “M&B Equity Stake,” warning investors and members of the public not to fall victim to fraudsters using the company’s name.
The pharmaceutical company issued the warning in a public notice dated August 17, 2026, following reports that individuals and entities were allegedly soliciting investments from the public while claiming to represent May & Baker.
The company said it has no connection with the promoters of the scheme and does not operate, endorse or support any investment programme outside its official communication channels and regulatory disclosures.
May & Baker said it had unequivocally dissociated itself, its subsidiaries and affiliates from the purported “M&B Equity Stake” scheme.
It warned that any flyer, message, website, platform, publication or other communication asking members of the public to invest money in an “M&B Equity Stake” or similar opportunity is fraudulent and unauthorised.
The company stressed that legitimate corporate actions, including dividends, rights issues and other shareholder-related matters, are communicated only through approved official channels.
May & Baker urged investors and shareholders to exercise caution when approached with investment opportunities claiming to be associated with the company.
It advised members of the public to:
- Ignore unsolicited communications promoting the purported investment scheme.
- Avoid making payments in response to such offers.
- Do not disclose personal, banking or financial information to unknown promoters.
- Report suspicious investment solicitations to the appropriate authorities.
- Verify company-related information through official sources before making investment decisions.
The company specifically encouraged stakeholders to cross-check information through its official website, the Nigerian Exchange Limited (NGX) and the Securities and Exchange Commission (SEC).
The May & Baker warning comes amid heightened concerns over fraudulent investment schemes and identity theft targeting businesses and individuals in Nigeria.
The SEC has intensified enforcement against unregistered investment operators and other schemes seeking to attract funds from the public without regulatory approval.
The regulator previously warned investors to be vigilant about Ponzi schemes, unregistered investment platforms and other fraudulent financial operations.
The misuse of the identities of listed companies can make such schemes particularly dangerous, as fraudsters often rely on the reputation of established businesses to convince potential victims that an investment opportunity is legitimate.
