SEC Warns Nigerians About Shalom Coin Investment Scam

The Securities and Exchange Commission (SEC) in Nigeria has issued a warning to the public regarding an investment scam related to Shalom Coin (SHLM), an unregistered digital asset being aggressively marketed on social media. The SEC highlighted that Shalom Coin is not registered or approved for issuance or trading within Nigeria, emphasizing the potential risks of engaging with unregistered digital assets.

Additionally, the Central Bank of Nigeria (CBN) confirmed plans to explore regulatory frameworks for stablecoins. This development underscores the growing concerns around fraudulent investment schemes in the cryptocurrency space within the country.