​May & Baker Nigeria Plc has issued an urgent public notice disowning a fraudulent online investment scheme named “M&B Equity Stake,” which promises guaranteed daily returns.
​The disclaimer was formally released on Tuesday, August 18, 2026, from the company’s corporate headquarters in Ikeja, Lagos. Executive management issued the statement to protect unsuspecting investors and members of the public from falling victim to financial scams operating under the guise of the premier pharmaceutical firm.
​According to the official communication released by the Corporate Communications and Investor Relations unit on behalf of the Board and Management of May & Baker Nigeria Plc:
The scheme known as “M&B Equity Stake” (and its associated online platforms or messaging groups) has no affiliation, approval, or endorsement from May & Baker Nigeria Plc. May & Baker emphasized that as a publicly traded company on the Nigerian Exchange (NGX), it does not solicit funds online nor offer fixed daily, weekly, or monthly ROI payouts.
Official investments in May & Baker Nigeria Plc can only be executed through licensed stockbrokers on the Nigerian Exchange (NGX) or authorized financial institutions.
The management cautioned the public that any individual or entity transacting with the operators of the “M&B Equity Stake” platform does so entirely at their own risk, as the scheme exhibits classic signs of a Ponzi operation.
​Addressing investors, law enforcement agencies, and the general public, the Corporate Communications team stated:
​”Our attention has been drawn to fraudulent online investment schemes operating under the name ‘M&B Equity Stake,’ promising guaranteed or daily returns to unsuspecting members of the public. May & Baker Nigeria Plc wishes to explicitly clarify that we have no connection whatsoever to this platform or any related online soliciting group.
We strongly advise the public to exercise caution, report suspicious investment solicitations to security agencies, and engage only through regulated capital market channels.”
​May & Baker Nigeria Plc confirmed that relevant security and regulatory agencies have been alerted to track down, investigate, and prosecute the perpetrators behind the illegal scheme.
