Nigeria's SEC warns against investing in Davido's meme coin, $Davido, due to high risk.

The Securities and Exchange Commission (SEC) of Nigeria has warned against investing in a meme coin allegedly linked to popular Nigerian singer David Adedeji Adeleke, known as Davido. The SEC stated that investing in meme coins, including $Davido, is highly risky and should be done with a full understanding of the associated risks. The commission also warned capital market operators not to associate with instruments that fall outside their regulatory purview.

June 14, 2024
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