Pascal Arogorn Ibe
Scammers now use AI-generated celebrity endorsement videos for fraudulent investments to target unsuspecting Nigerians, according to Crime Facts Findings.
These Facebook pages use AU-generated reels showing Nigerian celebrities and government officials to defraud Nigerians.
To gain a wider reach and audience, these scammers engage in running Facebook ads.
Their methods
These Facebook pages, Provision support, Premium Store, Youth Empowerment, and Leaders of tomorrow, and others, share AI-generated videos of a social media influencer, Martin Otse, popularly known as the Very Dark Man, to deceive Nigerian fraudulent investment.
A reel clip posted by Premium Store, which was boosted by Facebook ads, showed an AI-generated video of the Very Dark Man asking Nigerians to apply for school fees and other urgent giveaways by clicking on a link attached to the video.
Another clip of Very Dark Man asking Nigerians to apply ya lesson on content creation was posted by the Provision support Facebook page.
See other fraudulent videos by these Facebook pages here.
A closer look at the comments section of these Facebook pages indicated that Nigerians are falling victim to the scams.
Just scams
When we checked on the original Facebook pages of the celebrities and government officials, it was discovered that these videos were not uploaded there.
Also, CrimeFacts subjected cutouts from the videos to an A image detection device, Illuminarty. Results showed they were AI-generated.
Nigerian government agency warns
The Securities and Exchange Commission warned Nigerians about artificial intelligence (AI)-driven scams targeting investors with promises of guaranteed profits and fake celebrity endorsements.
In a statement on Sunday, the commission recounted such platforms as CBEX, Silverkuun, and TOFRO as examples operating illegally by advertising AI-powered trading systems that promise unrealistic returns.
“These platforms are not registered or regulated by the SEC, yet they continued to mislead the public with false claims of AI-driven investments,” the SEC said.
“They posed serious risks to investors, hence the commission issued a series of disclaimers against their activities.”
SEC said the fraudsters are increasingly using deepfake videos and AI-generated content to lure victims, with manipulated videos featuring politicians, celebrities, and TV hosts being shared through Facebook ads, Instagram reels, and Telegram groups to give fraudulent platforms an air of credibility.
“Scammers are exploiting AI to fabricate endorsements and testimonials that appear genuine,” the SEC said.
“This has made traditional fraud detection methods less effective, hence the need for tech-enabled regulation and greater public awareness.”
To counter the growing threat, the SEC said it is adopting advanced surveillance systems capable of detecting fraudulent activity in real time.
The commission further said partnerships with the Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unit (NFIU) are being strengthened to enable data-sharing and joint enforcement actions.
“We are moving from reactive to predictive oversight. This is essential in combating fraud and systemic risks in our market,” the regulator added.
SEC said it has engaged social media companies to clamp down on misleading ads and warned influencers against promoting unlicensed investment schemes, threatening regulatory sanctions or prosecution for non-compliance.
Also, the commission urged Nigerians to exercise caution when investing, warning that schemes promising daily profits, zero risk, or celebrity-backed endorsements are likely scams that should raise a red flag.
The commission further encouraged Nigerians to verify the registration status of any investment platform on its website, where a list of licensed capital market operators is available.
SEC added that investors should verify that registration numbers on company websites match the commission’s portal details and avoid platforms operating solely through Telegram or WhatsApp without a verifiable office address.
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