May & Baker Nigeria Plc has warned investors and members of the public against a fraudulent investment scheme operating under the name “M&B Equity Stake,” saying the pharmaceutical company has no connection with the programme.
In a public notice dated August 17, 2026, May & Baker said materials promoting the scheme have been circulating through social media, messaging applications and other online channels.
The unauthorised promotions are soliciting money from members of the public while promising daily or guaranteed investment returns, according to the company.
May & Baker said neither the company nor any of its subsidiaries or affiliates authorised the scheme, distancing itself from websites, groups, individuals and online platforms promoting investments using its identity.
The company urged investors not to transfer money or provide personal and financial information to individuals soliciting funds through the purported investment opportunity.
May & Baker also clarified that it is not currently conducting a rights issue, public offer or any other capital-raising exercise involving investments from members of the public.
The clarification is significant because the fraudulent scheme appears to be presenting itself as an opportunity for investors to acquire an equity interest associated with the listed pharmaceutical company.
May & Baker said any legitimate future capital raise would be announced through its authorised communication channels and carried out in accordance with applicable regulations and requirements of the Nigerian Exchange Limited and other relevant authorities.
The company advised existing shareholders and prospective investors to independently verify investment communications claiming to originate from May & Baker before committing funds.
It also encouraged members of the public who encounter the fraudulent scheme to report it to the appropriate authorities.
The warning comes amid continued concerns over online investment scams in Nigeria, where fraudsters increasingly exploit the identities of established companies and investment brands to solicit funds from unsuspecting individuals.
May & Baker is listed on the Nigerian Exchange, meaning legitimate purchases of its existing publicly traded shares are conducted through the regulated capital market rather than through unauthorised social-media investment schemes.
The notice was issued by Marina Nominees Limited, the company’s secretary, on behalf of the board.
