Access Bank has issued a public disclaimer warning Nigerians to beware of fraudulent WhatsApp groups operating under the name “Value Growth Club,” where scammers are impersonating its former chairman, Aigboje Aig-Imoukhuede.
The bank issued the notice on Saturday, noting that the perpetrators falsely claim to represent Aig-Imoukhuede.
It added that the scammers are also invoking his name alongside Gotham Capital to gain credibility and attract unsuspecting participants into fake investment schemes.
What the bank is saying
According to Access Bank, independent checks have confirmed that Aig-Imoukhuede has no connection whatsoever to the WhatsApp groups or any associated investment platforms.
The bank stressed that the former chairman has neither created, endorsed, nor authorised any initiative called “Value Growth Club.”
- “He is not involved in any WhatsApp‑based investment competition, trading group, or initiative linked to Gotham Capital or any similar platform.
- “These representations are false and misleading, and they are fraudulent impersonation.
- “The public is strongly advised NOT to join these groups, NOT to send money, NOT to invest, and NOT to share personal or financial information with anyone claiming such affiliation,” the bank stated in the notice.
The bank urged anyone who may have encountered the groups to exit immediately, report them through appropriate channels, and ignore further communication from the perpetrators.
Get up to speed
In January this year, the Securities and Exchange Commission (SEC) had also issued a public warning about Value Growth Platform, an online entity it suspected to be operating a Ponzi scheme under the guise of a legitimate investment service.
The SEC stated that the platform promotes itself as a sophisticated investment outlet offering market analysis, investment recommendations, and third-party trading services.
However, investigations revealed that these claims are not only misleading but also unlawful.
The commission emphasized that Value Growth Platform displays classic hallmarks of a fraudulent scheme.
These include unrealistic promises of guaranteed returns, aggressive referral programs offering monetary incentives, and urgent solicitations pressuring users to fund their accounts
“Accordingly, the public is advised to be cautious about investing with the said Value Growth Platform, as any person who engages with the entity or its representative does so at his/her own risk,” the SEC warned.
What you should know
The latest warning by Access Bank highlights the growing trend of cyber-enabled financial fraud in Nigeria, where criminals increasingly exploit social media and messaging platforms to impersonate high-profile individuals and institutions.
Financial institutions have repeatedly cautioned customers to verify investment opportunities through official channels and remain vigilant against unsolicited offers promising high returns.
