May & Baker warns against fake M&B Equity Stake investment scam

May & Baker Nigeria Plc has made it clear that it is not connected to the ‘M&B Equity Stake’ investment scheme. The company said this scheme is fake and not approved by them.

The company shared this information in a regulatory filing signed by Adetoun Abiru, Secretary of Marina Nominees Limited, on Tuesday. They urged the public to ignore any promotional materials that claim to offer daily or guaranteed returns for the equity stake.

This warning came after fake materials were shared on social media, messaging apps, and other online platforms. These materials pretended to offer an investment opportunity called “M&B Equity Stake.”

“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,” May & Baker stated.

The consumer foods maker emphasized that any person, platform, flyer, message, website or other communication asking for money using May & Baker Nigeria Plc's name is not authorized by them. They confirmed it was not issued by the company or anyone representing it.

They advised Nigerians to ignore these messages, not to make any payments, and not to share personal information in response to the ‘M&B Equity Stake’ investment materials.

“Report any such fraudulent activity to the appropriate authorities,” said the pharmaceutical and beverage company. They also told the public not to share their financial information with anyone.

The company confirmed that it is not running any Rights Issue, Public Offer, or any other capital-raising effort that involves asking for investments from the public.

“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,” they added.

Finally, they urged shareholders, customers, employees, and the general public to stay alert and check any supposed investment opportunity or communication about the company through its official channels before taking action.