May & Baker Dissociates Self from M&B Equity Stake Investment Scheme

By Aduragbemi Omiyale

One of the leading manufacturing companies in the country, May & Baker Nigeria Plc, has distanced itself from an investment scheme it described as “fraudulent.”

In a statement on Tuesday, the firm stressed that it has no relationship whatsoever with M&B Equity Stake investment scheme, warning members of the public to “remain vigilant and verify any purported investment opportunity or communication relating to the company through its official communication channels before taking any action.”

May & Baker disclosed that it is not currently undertaking any rights issue, public offer or other capital-raising exercise involving the solicitation of investments from the public.

It stated that any future capital-raising exercise will be formally communicated through its authorised communication channels and conducted in accordance with applicable laws, regulations and the requirements of the Nigerian Exchange (NGX) Limited and other relevant regulatory authorities.

It, therefore, advised the investing public “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.”

May & Baker said 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 its behalf.