Influencers now obliged to comply with not so glamorous rules on advertising and tax
- The Securities and Exchange Commission warned influencers against promoting unregistered investment schemes, with potential legal consequences, as stated by Director-General Emomotimi Agama.
- The recently enacted Investments and Securities Act 2025 penalizes influencers promoting fraudulent schemes, which may include imprisonment for violators, according to Mr. Agama.
- The Competition and Consumer Protection Commission issued compliance notices to several influencers for not properly labeling paid promotions, indicating a shift in regulation.
- Revenue confirmed it sent 450 letters to social media influencers about their tax obligations regarding income from advertisements and gifts, showcasing increased scrutiny.
12 Articles
12 Articles
SEC set to clamp down on social media influencers, bloggers promoting unregistered investments
SEC says it has the capacity, expertise, and legal backing to combat Ponzi schemes and protect investors. The post SEC set to clamp down on social media influencers, bloggers promoting unregistered investments appeared first on Premium Times Nigeria.
The Rise of Social Media Influencers: A New Era in Digital Marketing
Over the last decade, the world of digital marketing has undergone significant changes. With platforms such as Instagram, Facebook, TikTok, and X on... The post The Rise of Social Media Influencers: A New Era in Digital Marketing appeared first on OfficeChai.
CBEX: Influencers, celebrities and bloggers promoting Ponzi schemes risk 10 years in jail
Amid the ongoing CBEX saga, the Securities Exchange Commission (SEC) has warned influencers, celebrities, and bloggers against promoting unverified and unregistered investment schemes as violators face possible imprisonment under the new Investment and Securities Act (ISA) 2025. The directives follow reports that some influencers and celebrities promoted CBEX which prompted their followers and innocent Nigerians to fall victim to the Ponzi Schem…
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