May & Baker Nigeria Plc has issued a stern warning to investors and the public about a fraudulent investment scheme operating under the name “M&B Equity Stake,” emphasizing that the company has no affiliation with the programme. The alert, released on August 17, 2026, comes as fake promotional materials continue to circulate widely on social media, messaging apps, and other online platforms. These deceptive campaigns are actively soliciting funds from unsuspecting individuals by promising unrealistic daily or guaranteed returns on investment. The pharmaceutical giant insists it has not authorized any such initiative and is not involved in any capital-raising activity under this name.
The company made it clear that neither May & Baker nor any of its subsidiaries or affiliates have endorsed or participated in the “M&B Equity Stake” scheme. It specifically distanced itself from websites, online groups, individuals, and digital platforms using its name to promote investments. Investors are strongly advised against transferring money or sharing personal and financial details with anyone claiming to represent the scheme. The notice also confirmed that May & Baker is not currently conducting a rights issue, public offer, or any other form of fundraising involving public investment.
This clarification is particularly important because the scam appears designed to mislead people into believing they can acquire equity stakes in the listed pharmaceutical company through unofficial channels. Legitimate transactions for May & Baker shares must be conducted through the Nigerian Exchange Limited, the country’s regulated capital market. Any future capital-raising efforts by the company will be officially announced through its authorized communication channels and will strictly comply with regulations set by the Nigerian Exchange and other relevant authorities.
The company urged existing shareholders and potential investors to independently verify any investment-related communications before taking action. It also encouraged members of the public who encounter the fraudulent scheme to report it to appropriate law enforcement or regulatory bodies. This warning reflects growing concerns over online investment frauds in Nigeria, where scammers often impersonate reputable companies to exploit public trust. As one of Nigeria’s established pharmaceutical firms, May & Baker’s presence on the stock exchange makes it a frequent target for such deceptive practices.
The notice was issued by Marina Nominees Limited, acting as the company’s secretary on behalf of the board. With increasing cyber threats and financial scams targeting ordinary Nigerians, this alert serves as a timely reminder to exercise caution and seek verified information before investing. The continued vigilance of both businesses and consumers will be essential in combating these fraudulent activities in the digital age.
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