Back to Africa Check

Nigerians, beware of Facebook account promoting investment platform named after trade ministry

IN SHORT: A Facebook account using the name and logo of the Federal Ministry of Industry, Trade and Investment is promising to double investors’ money. But users should not trust the account and the platform with their money as they may be out to scam them.

“Here is How We Operate, We Trade On Crypto Currency Locally Known As Bitcoin, We Make 3 Tripple Of Your Donation And Send You Two Part & We Benefit One Part,” reads part of a poorly written post on Facebook.

The 11 June 2023 post by the Facebook account Federal Trade Investment Platform invites users to invest through a platform of the same name via the WhatsApp link attached.

The post features a video of a man who claims “it is the best platform so far in the world”. 

Bitcoin is a type of digital currency that has no centralised regulators or government intervention.

The account uses the name and logo of Nigeria’s Federal Ministry of Industry, Trade and Investment.

But does Nigeria’s trade ministry run an investment platform that can double people’s money? We checked.


Account might be out to scam you

The Facebook account in question was created on 10 June and only has 15 followers.

We found the ministry’s verified page, which was created on 20 January 2016 and has 19,000 followers. But we couldn’t find any posts about an investment platform on this page.

The suspicious page’s profile picture is of a coat of arms with the phrase “climate action” written around it in different languages. The profile picture of the official account also shows the Nigerian coat of arms, but with the words “Unity and Faith, Peace and Progress” below it, as can be seen in other images of official government events.

The suspicious Facebook account lists a Gmail email address under its contact details and not a government-hosted email on the .ng domain. 

When we clicked on the WhatsApp link provided on the post, it said: “Link no longer valid.”

A search of “Federal Trade Investment Platform” on Nigeria’s business register brought up no business by that name. A business not registered with the Corporate Affairs Commission cannot be trusted.

All signs point to a fake Facebook account promoting an illegitimate investment platform.

Republish our content for free

We believe that everyone needs the facts.

You can republish the text of this article free of charge, both online and in print. However, we ask that you pay attention to these simple guidelines. In a nutshell:

1. Do not include images, as in most cases we do not own the copyright.

2. Please do not edit the article.

3. Make sure you credit "Africa Check" in the byline and don't forget to mention that the article was originally published on

For publishers: what to do if your post is rated false

A fact-checker has rated your Facebook or Instagram post as “false”, “altered”, “partly false” or “missing context”. This could have serious consequences. What do you do?

Click on our guide for the steps you should follow.

Publishers guide

Africa Check teams up with Facebook

Africa Check is a partner in Meta's third-party fact-checking programme to help stop the spread of false information on social media.

The content we rate as “false” will be downgraded on Facebook and Instagram. This means fewer people will see it.

You can also help identify false information on Facebook. This guide explains how.

Add new comment

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
limit: 600 characters

Want to keep reading our fact-checks?

We will never charge you for verified, reliable information. Help us keep it that way by supporting our work.

Become a newsletter subscriber

Support independent fact-checking in Africa.