The Securities and Exchange Commission (SEC) has warned Nigerians about a rise in artificial intelligence-powered investment scams that promise unrealistic profits through fake endorsements and manipulated videos. In a statement on Sunday, the regulator identified platforms such as CBEX, Silverkuun, and TOFRO as unregistered operators using AI-generated content, including deepfake videos of celebrities and politicians, to lure unsuspecting investors. “Scammers are exploiting AI to fabricate endorsements and testimonials that appear genuine. “Any investment that guarantees unrealistic returns or uses manipulated videos of public figures should immediately raise a red flag,” the Commission warned, urging Nigerians to verify all investment platforms on its website. The regulator recalled that more than 600,000 Nigerians lost N1.3 trillion when CBEX collapsed earlier this year, a scheme operated under ST Technologies International Limited, which remains under EFCC investigation.