Nigeria’s anti-corruption, financial-crime and consumer-protection agencies have cautioned celebrities and social-media influencers that they could face liability for advertising deceptive goods, unlawful investment offers and other fraudulent services.
Regulators target misleading endorsements
- The Independent Corrupt Practices and Other Related Offences Commission, the Economic and Financial Crimes Commission and the Federal Competition and Consumer Protection Commission issued the warning at a joint stakeholder session in Abuja on Friday.
- The meeting focused on the growing use of well-known entertainers and online personalities to market Ponzi operations, bogus investment platforms and products that have not been registered with the relevant authorities.
- The agencies said Nigerians have collectively lost billions of naira after putting money into products promoted on social media by prominent public figures.
Tunji Bello, executive vice chairman of the FCCPC, said endorsers could no longer argue that they were unaware of misconduct by companies or products they promoted.
“If you promote a fraudulent product, you are liable. Your face, your voice, your influence was used to deceive people. You will be held accountable,” Bello said.
EFCC Chairman Ola Olukoyede, who was represented at the gathering, said influencers involved in marketing scams would be regarded as accomplices.
“We have seen cases where skit makers, musicians and actors promoted crypto scams and fake loan apps. Nigerians lost money because they trusted their favourite celebrity. That trust must not be abused,” he said.
The ICPC said promotional campaigns for counterfeit or deceptive offerings by celebrities weaken public confidence in the marketplace and contribute to corrupt practices.
Due diligence urged before endorsement deals
- The commissions advised celebrities to check prospective products and businesses with regulators including the National Agency for Food and Drug Administration and Control, the Securities and Exchange Commission and the FCCPC before accepting advertising contracts.
- Members of the public were also encouraged to flag suspicious offerings and celebrity-backed advertisements whose returns or claims appear implausibly attractive.
The intervention follows public criticism of several celebrities for marketing investment programmes that later collapsed, as well as unsafe skincare products that reportedly left consumers in debt and suffering health problems.
