Josiah
The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have cautioned the public against a crypto investment scheme known as “Daily Wealth Guide”, which is allegedly promising investors large sums of money.
The warning follows the circulation of a doctored video on social media purporting to show President John Dramani Mahama endorsing the investment platform. The two regulators, in a notice dated September 1, 2026, described the video as fake and urged Ghanaians to be cautious and avoid falling victim to the scheme.
The regulators said the video falsely suggested that President Mahama had endorsed “Daily Wealth Guide”, stressing that no such endorsement had been made. They therefore advised members of the public not to rely on the video or similar promotional materials when deciding whether to invest their money.
According to the Bank of Ghana and the SEC, the activities of the promoters of the scheme amount to deposit-taking, which is regulated under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). They explained that only institutions licensed by the Bank of Ghana are legally permitted to undertake deposit-taking activities.
The Bank of Ghana further clarified that it has not licensed any individual or entity to engage in crypto investment. This, the regulators said, should serve as a warning to the public, particularly those being encouraged to deposit money with platforms claiming to offer guaranteed or unusually high returns.
The regulators also warned that individuals or entities found to be operating the scheme could face sanctions. These may include an order to refund money collected from members of the public, as well as administrative penalties ranging from 500 to 100,000 penalty units under Section 53(3) of the Anti-Money Laundering Act, 2020 (Act 1044).
Beyond administrative sanctions, the BoG and SEC said suspected operators could be referred to law enforcement agencies for further investigation and possible prosecution.
The Bank of Ghana has also cautioned media organisations against allowing unlicensed investment platforms to use their channels to solicit funds from the public. Radio stations, television networks and online media platforms have been urged to verify the licensing status of investment companies before accepting advertisements for their products and services.
The regulator stressed that media houses have an important role to play in preventing the public from being exposed to potentially fraudulent investment schemes. It therefore urged all media outlets to confirm with the appropriate regulatory authorities whether an investment platform is duly licensed before carrying its advertisements.
Members of the public have similarly been advised to exercise caution before committing their money to investment platforms, particularly those promoted through social media or using the names and images of prominent personalities.
The regulators urged Ghanaians to verify the licensing status of any institution offering investment or deposit-taking services and to place their money only with institutions authorised by the Bank of Ghana and other relevant regulatory bodies.
The BoG and SEC said they would continue to work with law enforcement agencies to identify and pursue individuals behind the scheme, warning that anyone found culpable would face the full force of the law.
