By Amoako Kwame
The Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) have warned the public against a purported cryptocurrency investment scheme operating under the name “Daily Wealth Guide”, describing it as a scam and urging Ghanaians not to deposit money with its operators.
In a joint warning, the regulators said individuals behind the platform were allegedly using promises of high financial returns to lure unsuspecting members of the public into an unlicensed investment scheme.
The warning comes as promotional material for the platform circulates on social media, including a doctored video purporting to show President John Dramani Mahama endorsing the scheme.
The BoG and SEC said the video had been manipulated and should not be relied upon as evidence of any presidential endorsement, government backing or regulatory approval of the platform.
The regulators further cautioned that the use of cryptocurrency-related branding does not make an investment operation legitimate.
According to the BoG, it has not licensed any individual or entity to engage in the purported cryptocurrency investment activity associated with “Daily Wealth Guide”.
The regulators also raised concerns about the solicitation of funds from members of the public.
They said receiving deposits from the public constitutes deposit-taking activity, which requires appropriate licensing under Ghana’s financial-sector laws.
Unlicensed entities engaging in such activities could face regulatory and legal action, including possible referral to law enforcement agencies.
The warning comes amid growing concerns over fraudulent investment schemes that use social media, digital assets and manipulated content to create an appearance of legitimacy.
The use of a deepfake or doctored video featuring a prominent public figure can make fraudulent schemes appear credible and encourage victims to part with their money.
The BoG and SEC have therefore urged the public to exercise caution and verify the regulatory status of any investment platform before committing funds.
They have also cautioned against schemes that promise unusually high or guaranteed returns, which are common warning signs of investment fraud.
The regulators further called on media organisations and other platforms to exercise due diligence before accepting advertisements from purported investment companies, particularly those soliciting funds from the public.
The latest warning comes as Ghana strengthens its regulatory framework for virtual assets.
The BoG recently inaugurated the Virtual Assets Coordinating Committee, bringing together key institutions including the BoG, SEC, Ministry of Finance, Cyber Security Authority and Financial Intelligence Centre to improve regulatory coordination, consumer protection and oversight of Ghana’s virtual-asset ecosystem.
The BoG and SEC have consequently urged anyone who encounters the “Daily Wealth Guide” promotion to avoid transferring money to the operators and to verify the licensing status of financial and investment service providers through the appropriate regulatory authorities.
The regulators stressed that an apparent endorsement by a public figure, attractive returns or the use of sophisticated cryptocurrency terminology should not be treated as proof that an investment opportunity is genuine.
