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CyberSafe Foundation’s NoGoFallMaga Community Releases Investment Scam Handbook

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NoGoFallMaga (NGFM), a campaign instituted by the CyberSafe Foundation has released its first Investment Scam handbook through its Community platform.

Released on August 12 to align with this year’s World Youth Day, the Investment scam Handbook is an essential tool that would protect individuals and businesses from investment scams.

It provides an in-depth look at the warning signs of Ponzi scams and offers tips on how to stay safe. The objective is for the handbook to continuously educate people on these cyber crime tactics.

The timely release of the Handbook is to align with the theme for this year’s World Youth Day, which is ‘Intergenerational Solidarity’; and the NGFM community wants to encourage people, especially the youth to show solidarity with other generations by educating them about the danger of investment scams.

Since youths are the most active online, more conversant with emerging technologies and energetic, the onus is on them to act as a sort of intergenerational stop gap, protecting other generations from the nefarious activities of fraudsters.

The CyberSafe Foundation’s NoGoFallMaga (NGFM) Community is a group of online security experts who are set to help people protect their money, assets, and identities online. The cybersecurity community is an initiative of CyberSafe Foundation, an NGO strategically positioned and, on a mission, to ensure inclusive and safe digital access in Africa.

NGFM has 142 active Volunteers and has uncovered and exposed over 20 Ponzi Schemes in Nigeria alone. Also they’ve helped SMEs, the aged and people at large by bringing awareness about these schemes.

The Security and Exchange Commission (SEC) in a recent statement had stated that “Ponzi schemes have undermined the reputation of the capital market and dampened investors’ confidence”, a major issue which is affecting the country’s capital market.  According to a study by Norrenberger Financial Investments Scheme, Nigeria has lost more than N300 billion to pyramid schemes over five years.

It is interesting to know that the first Ponzi scheme was created by Charles Ponzi in 1920. He promised investors a 50% return on their investment in just 45 days. And it worked for a while. But eventually, the scheme collapsed, leaving investors with nothing. And history has repeated itself over and over again since then.

The NogoFallMaga community, whose primary focus is on digital fraud, has intervened in several cybersecurity cases across the country and had in the past exposed a fake Job Syndicate impersonating the United Nations online.

NoGoFallMaga Community Manager, Enyinna Abazie revealed what the Community has achieved over the years, which includes the release of “The Phishing Handbook” and “The book of scams” to tackle various segments of scams in the country.

According to him: “Our biggest Ponzi burst so far was getting involved with the “Intelligence Prime Capital Scam.”  The said organization claimed to have a trading bot which used Artificial Intelligence to make a steady stream of profit. Investor-victims were also asked to recruit others into the scheme to earn more.

He further said, “a few months after our investigation, and saving countless numbers from joining the scheme, the perpetrators performed an exit scam and disappeared with the funds of investors. Ponzi schemes tend to go undetected for years, and by the time they’re exposed, it’s often too late”.

CyberSafe Foundation, the parent organisation for the NoGoFallMaga Community, has several other initiatives which include the ‘ShineYourEye Cybersecurity Community’ for the elderly, ‘CyberGirls Fellowship’, and the ‘DigiGirls Fellowship’. The organisation has also helped SMEs with the Cybersecurity SME toolkit launch this year.

 


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NITDA Supports CAC AI Driven Transformation

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By Oluwole Alao

Kashifu Inuwa CCIE, the Director General of the National Information Technology Development Agency (NITDA), has pledged the Agency’s full support for the Corporate Affairs Commission’s (CAC) artificial intelligence–driven transformation as the Commission marked its 35th anniversary in Abuja.

Delivering a goodwill message at the celebration, which was held at the Ladi Kwali hall of the Abuja Continental Hotel, Inuwa commended CAC for its uncommon consistency and resilience, noting that while many organisations rise and fall after initial success, CAC has continued on a steady growth trajectory.

“We know organisations go up and come down, but some will keep thriving, thriving, and thriving, and today, this is what we are witnessing for CAC,” he said.

Reflecting on his early engagement with the Commission, the NITDA boss recalled that the Registrar General made organisational transformation a priority from the very start of his leadership, particularly in embracing digital innovation.

According to Inuwa, the current era demands more than basic digitisation, stressing that meaningful transformation can only be achieved through the integration of artificial intelligence into core operations.

“We are in the AI era, and the only way to transform today is to embrace and integrate AI into your operations. This is exactly what the Registrar General is doing,” he stated.

He assured CAC of NITDA’s commitment to working closely with the Commission to embed AI across its numerous processes, explaining that the technology would infuse intelligence into workflows, simplify company registration and business management, and strengthen cybersecurity.

“We will make sure you integrate AI into CAC processes. With AI, it will infuse intelligence in everything you do and make things easy for Nigerians to register companies and manage businesses,” Inuwa averred.

The NITDA DG added that deploying advanced AI tools would help CAC staff stay ahead of fraudsters and curb hacking and fraudulent alterations of company records, while also safeguarding the system through responsible deployment.

“At NITDA, we will make sure you deploy ethical and responsible AI in your operations, with the right guardrails in place,” he assured.

He further described CAC’s digital reforms as bold and impactful, noting that the Commission has reduced company registration timelines from several months to as little as 24 hours. He added that further integration of AI would enhance name search and reservation, automate filings, improve corporate governance, and significantly reduce fraud.

He also highlighted NITDA’s ongoing role in reviewing CAC’s digital and AI transformation roadmaps, providing guidelines, standards, training support, and safeguards to ensure sustainable, people-centred, and secure digital services.

The NITDA DG congratulated CAC management, staff, and members of the National Assembly for their support, expressing confidence that the partnership would further strengthen Nigeria’s digital business environment in the years ahead.

 


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U.S. Slams Nigerians: Overstays Jeopardize All Visas

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The United States has warned Nigerians that overstaying their visas could jeopardise travel opportunities for other citizens seeking to visit the US for education, business, or family purposes.

U.S. Slams Nigerians: Overstays Jeopardize All Visas

The warning came amid ongoing immigration crackdowns and tighter travel restrictions under the administration of President Donald Trump.

In a statement posted on X on Monday, Feb. 9, the U.S. Mission in Nigeria stressed that compliance with visa rules is essential to protecting access for Nigerians who travel responsibly.

“Visa overstays by Nigerian travellers can affect opportunities for their fellow citizens,” the Mission said. “Strengthening compliance helps protect access for students, business travellers and families who travel responsibly.”

The Mission also urged Nigerians to report cases of visa fraud to [email protected] or [email protected]


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CAC Pushes Single National Register to Curb Corruption Loopholes

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Nigeria’s Corporate Affairs Commission (CAC) has urged creation of a unified national beneficial ownership register to bolster anti-corruption efforts and corporate transparency.

CAC Pushes Single National Register to Curb Corruption Loopholes

CAC

CAC Registrar-General highlighted how fragmented sectoral registers breed duplication, inconsistencies, and regulatory gaps during the Commission’s 35th anniversary Anti-Corruption Day in Abuja.

ICPC Chairman Dr. Musa Aliyu, via representative Demola Bakare, praised CAC’s role in fostering accountable business environments that drive sustainable growth.

Global evidence links transparent institutions to stronger economies, with clear rules, accessible data, and open operations as key pillars.

CAC’s oversight on company registration, disclosure, and compliance directly builds investor trust and national integrity, closing avenues for illicit financial flows.


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