Nigerian pharmaceutical manufacturer May & Baker Nigeria Plc has issued a public warning regarding unauthorized investment materials circulating across online platforms, messaging applications, and social media networks.
In an official public notice filed on August 17, 2026, the company disavowed a fraudulent scheme titled the “M&B Equity Stake,” which falsely promises daily or guaranteed returns to retail investors under the guise of the listed healthcare firm.
“The Company hereby unequivocally dissociates itself, its subsidiaries and affiliates from the purported “M&B Equity Stake” investment scheme and any person, platform, website, group, publication or other communication promoting or soliciting funds in connection with the scheme,” May & Baker said.
“Accordingly, any person, platform, flier, message, website or other communication soliciting funds from the investing public in the name of May & Baker Nigeria Plc in connection with an “M&B Equity Stake” or similar investment opportunity is fraudulent, unauthorised and not issued by or on behalf of the Company. The Investing Public is therefore strongly advised to disregard such communications, refrain from making any payment or disclosing personal or financial information in response to them and report any such fraudulent activity to the appropriate authorities.”
The Company further confirmed that it is not currently undertaking any Rights Issue, Public Offer or other capital-raising exercise involving the solicitation of investments from the public.
May & Baker said any future capital-raising exercise will be formally communicated through the Company’s authorised communication channels and conducted in accordance with applicable laws, regulations and the requirements of the Nigerian Exchange Limited and other relevant regulatory authorities.
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