PUBLIC ADVISORY:
Kabba/Bunu Local Government Warns Residents Against Unverified Investment Schemes, Urges Due Diligence Before Financial Commitments
The Executive Chairman of Kabba/Bunu Local Government Area, Hon. (Barr.) Zacchaeus Dare Michael, has issued a strong public advisory warning residents of the Local Government against participating in unverified investment schemes, online financial platforms, and other suspicious ventures that promise unrealistic returns without conducting proper due diligence.
The warning follows growing public concerns surrounding the online platform known as PXES, which has been the subject of allegations and cautionary reports online suggesting that it may operate as a high-risk financial scheme rather than a legitimate investment company. While investigations by the appropriate regulatory authorities remain the proper basis for any definitive legal conclusion, the concerns being raised underscore the need for extreme caution by members of the public.
The Chairman noted that many fraudulent investment platforms often disguise themselves as genuine wealth-creation opportunities, offering attractive returns to lure unsuspecting citizens into schemes that ultimately collapse, leaving investors with substantial financial losses.
- Advertisement -
He urged the people of Kabba/Bunu Local Government to verify the legal status, regulatory approvals, and credibility of any investment platform before committing their hard-earned resources, emphasizing that every resident has a responsibility to exercise sound judgment and financial prudence.
“No investment is worth risking your life’s savings without proper verification. Residents should never be persuaded by exaggerated promises of quick wealth, social media hype, or endorsements from individuals without first conducting thorough due diligence.”
Hon. Zacchaeus Dare Michael warned that should any investment or financial scheme eventually be found to be fraudulent or operating in violation of Nigerian law, both the operators and any collaborators within Kabba/Bunu Local Government who knowingly participate in promoting or administering such illegal schemes will be reported to the appropriate law enforcement and regulatory agencies for investigation and prosecution in accordance with the law.
The Chairman further cautioned that any traditional ruler, religious leader, community leader, or influential individual who knowingly misleads members of the public into participating in fraudulent or illegal investment schemes, or uses their position to encourage financial deception, will not be shielded from accountability. Where credible evidence establishes criminal conduct, such individuals will be referred to the relevant authorities for investigation and, where appropriate, prosecution under applicable laws.
He stressed that traditional institutions and religious organizations occupy positions of trust within society and must never be used as instruments to lend credibility to questionable financial ventures.
The Executive Chairman reaffirmed the commitment of the Kabba/Bunu Local Government Administration to protecting the welfare, economic security, and collective interests of all residents through sustained public enlightenment and collaboration with security and regulatory agencies.
He therefore encouraged residents to report suspicious investment activities to the appropriate security agencies, financial regulators, or the Local Government authorities, and to remain vigilant against any scheme that promises unrealistic profits with little or no verifiable business activity.
The Chairman concluded by reiterating that financial caution, proper verification, and informed decision-making remain the best safeguards against investment fraud, urging all residents to prioritize legitimate, transparent, and duly regulated investment opportunities.
Signed:
Hon. (Barr.) Zacchaeus Dare Michael
Executive Chairman
Kabba/Bunu Local Government Area
28 July 2026
(DEMOCRACY NEWSLINE NEWSPAPER 28TH JULY)
