By BONIFACE AKARAH

The African Democratic Congress (ADC) Presidential frontrunner, Peter Obi, has distanced himself from a wave of fraudulent online investment schemes falsely claiming his endorsement, describing such platforms as scams designed to deceive unsuspecting Nigerians.

In a public disclaimer issued on Wednesday, Obi’s Media Adviser, Valentine Obienyem, said the former Anambra State governor “is not affiliated with any online ‘doubling’ schemes, crypto-investment platforms, or high-yield wealth programs.”

The statement warned that fraudsters are deliberately exploiting Obi’s public image to gain trust and lure victims into financial traps.

“A suspect recently apprehended for such activities confessed to security agencies that fraudsters deliberately exploit Peter Obi’s reputation for integrity,” Obienyem said. “His name is used as a ‘trust magnet’ to lure unsuspecting individuals into fraudulent financial commitments.”

The advisory urged Nigerians to exercise caution and verify any investment opportunity before committing funds, stressing that promises of unrealistic returns should be treated as red flags.

“Any investment promising unrealistic returns while using his name or image should be treated as a criminal attempt to defraud you,” the statement added.

Obienyem further called on the public to rely only on verified channels for authentic information, noting that the increasing circulation of such schemes poses serious financial risks to citizens.

“Do not allow fraudsters to capitalise on public trust. Remain vigilant,” he said.

The warning comes amid growing concerns over the rise in digital financial scams in Nigeria, where public figures are increasingly impersonated to legitimise fraudulent operations.