Nigeria’s regulator calls WayvePay a suspected fraud.

Dealing with unregistered platforms exposes investors to fraud and loss of their money, the commission said.

WayvePay runs a website, social media pages and a mobile app, without registration to solicit the public, the commission said.

The commission described no returns or losses, and no reply from WayvePay is recorded.

The commission urged savers to check a company’s registration on its portals before committing funds.

How each outlet framed it
Premium Times Nigeria
warns investors that WayvePay's unregistered status exposes them to fraud, quoting the SEC's own advisory language

Sources: Premium Times Nigeria