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‘Access Bitcoin Investment’ is not a legitimate platform operating in Nigeria

IN SHORT: Some Facebook posts claim that Access Bitcoin Investment can double users’ money. But it is not a registered company and potential investors should proceed with caution.

Some Facebook posts appear to offer investment opportunities to Nigerians through a platform known as Access Bitcoin.

One post, dated 12 April 2024, reads: “ACCESS BITCOIN INVESTMENT PLATFORM (Congratulations to those who have benefited) Platform that gives you double of your donation within 30/45 minutes time.”

The post claims that the platform is registered with Nigeria’s Corporate Affairs Commission (CAC) and is “brought to you by Nigeria federal government”. The commission is responsible for regulating and supervising the formation, operation and management of companies.

The post also encourages interested users to reach out via WhatsApp. 

Bitcoin is a virtual currency that operates without centralised management, bank supervision, or government control.

Similar posts can be found on Facebook here, here, here and here.

But is “Access Bitcoin Investment” to be trusted? We checked.


Familiar scam pattern

Any investment platform or institution promising to double users’ money in a short period of time is usually a red flag. Nigeria’s Economic and Financial Crime Commission has warned the public against investing in platforms that promise quick and unrealistic profits.

Africa Check searched the CAC’s register and found no record of “Access Bitcoin Investment”. This means it is not registered to operate in the country and is doing so illegally.

Legit companies usually have a website or app where users can get more information and register. Asking users to sign up via WhatsApp is another red flag. The account could be out to scam users or steal their personal information.

Africa Check has previously investigated similar false investment schemes here, here, here and here.

To help protect yourself against online scams, read our guide to spotting investment scams on Facebook.

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