GMG Investment in Nigeria: 3 Ways To Detect Scam Investments

gmg investment

Welcome to our latest blog post, where we delve into the world of GMG investment in Nigeria!

In today’s dynamic financial environment, navigating investment opportunities requires a cautious approach.

With markets constantly shifting and economic landscapes evolving, it’s crucial to exercise vigilance and diligence when considering investment options.

Whether you’re a seasoned investor or just starting, understanding the risks and potential rewards associated with different investment avenues is essential.

In recent years, the proliferation of investment opportunities has given rise to both legitimate ventures and fraudulent schemes. One such scheme that has garnered attention is GMG Investment in Nigeria.

In this article, we will explore the recent controversies surrounding GMG Investment (Graphene Manufacturing Group) in Nigeria.

Key Takeaways

  • GMG Investment presented itself as an investment company specializing in graphene production and sales. It pledged high returns on investments, especially focusing on the African market, with the goal of doubling investors’ funds and positioning itself as a lucrative opportunity.
  • Similar to many Ponzi schemes, GMG Investment utilized funds from new investors to pay returns to earlier investors instead of generating profits through legitimate business activities.

An Overview Of GMG ( Graphene Manufacturing Group)

Graphene Manufacturing Group Ltd. is a leading company in the clean technology sector, specializing in the production and distribution of graphene powder. The company’s core activities revolve around the manufacturing and supply of innovative energy-saving and energy-storage solutions.

One of the key products in their portfolio is the graphene aluminum-ion battery, which showcases their commitment to cutting-edge technology in the energy storage sector. Additionally, their THERMAL-XR HVAC coating system stands out for its ability to enhance the conductivity of deteriorated heat exchange surfaces, ensuring optimal performance of heating and cooling units.

Moreover, Graphene Manufacturing Group Ltd.’s G Lubricant, a unique blend of graphene and lubricating oil, demonstrates their focus on developing advanced materials for various applications.

Since its establishment in 2016, the company has been at the forefront of sustainable energy practices, with its headquarters located in Richlands, Australia. Through its innovative products and solutions, Graphene Manufacturing Group Ltd. continues to make significant contributions to the clean technology industry.

Top Executives

Before diving into the list of GMG executives, it’s essential to understand the leadership structure within the organization.

The following executives play pivotal roles in guiding GMG’s operations and strategic direction, each bringing a wealth of experience and expertise to their respective positions.

Let’s explore the key figures shaping GMG’s trajectory.

  • Craig Nicol, aged 47, has been the founder, managing director, director, and CEO since 2016.
  • Andrew Small assumed the role of director in 2023.
  • Dan Brett became a member of the Technical Advisory Committee in 2022.
  • John Francis Perkowski, aged 74, has served as the non-executive chairman of the board since 2023.
  • William W. Ollerhead, aged 57, serves as an independent, non-executive director.
  • Robert L. Galyen joined as an independent, non-executive director in 2022.

Also read: Theobarth Grants: Scam or Legit? Read This Review Before You Apply

GMG Investment in Nigeria: Legit or Scam?

GMG Investment is an alleged investment scheme that emerged, purportedly offering Nigerians opportunities to generate income.

It was founded in 2016 and is headquartered in British Columbia, Canada.

GMG Investment presented itself as an investment company specializing in graphene production and sales. It pledged high returns on investments, especially focusing on the African market, to double investors’ funds and position itself as a lucrative opportunity.

Although part of the information they gave was true of the original company, they had no connection with the original GMG company but were simply con artists.

Despite its promises, GMG Investment operates in a largely unregulated environment, raising concerns about its legitimacy.

The lack of regulation by any governing authority casts doubt on the legitimacy of the GMG Investment Platform. This absence of oversight raises concerns about the platform’s credibility.

It’s essential to recognize that the absence of regulation in a financial and investment company exposes investors to potential risks.

This underscores the importance of selecting regulated and reputable financial institutions. Unregulated platforms like GMG Investment are likely to fail to deliver promised returns, leaving investors vulnerable to financial loss.

Impersonation of GMG Ltd.

Amidst the recent controversies surrounding GMG Investment (Graphene Manufacturing Group Investment), it has also been discovered that GMG LTD. was just a victim of impersonation and not responsible for defrauding many Nigerians.

It has therefore been determined that the Graphene Manufacturing Group (GMG investment) platform has garnered significant negative feedback, with victims branding it a Ponzi scheme. An investigation has revealed that GMG has ceased operations, leaving investors uninformed about the status of their investments.

Regarding these events, the Graphene Manufacturing Group has issued a warning on their website, addressing the recent fraudulent activities of individuals impersonating them and defrauding Nigerians through an investment platform called

The statement reads:


Unauthorized third parties are purporting to operate in the name of or concerning Graphene Manufacturing Group Ltd. (GMG).

These include an apparent fraudulent investment opportunity in Graphene Manufacturing Group Ltd. For the avoidance of doubt, Graphene Manufacturing Group Ltd. is not marketing investment opportunities in Nigeria or elsewhere and does not seek investment or money over the Internet. Any investment or related representation by any party referring to Graphene Manufacturing Group Ltd. is not authorized and should be reported to authorities and avoided.

Investment in GMG is either via the TSX Venture Exchange, a stock exchange in Canada, or an authorized stockbroker. GMG has formally reported these sites and requested their removal.
Graphene Manufacturing Group Ltd (GMG) is not associated with

Please report the bank account details of to your bank so they can help.

Similar to many Ponzi schemes, GMG Investment utilized funds from new investors to pay returns to earlier investors instead of generating profits through legitimate business activities.

The lack of transparency surrounding its operations and finances heightened suspicions, ultimately resulting in the platform’s collapse and significant financial losses for investors.

Currently, GMG Investment’s official website,, is inaccessible. The domain, registered on GoDaddy under Domains by Proxy to maintain the confidentiality of the owner’s information, was scheduled to expire on June 24, 2023.

Many investors reported difficulties in withdrawing funds from the GMG investment platform, further confirming the platform’s disreputable behavior.

The collapse of GMG has exposed the risks associated with unregulated financial platforms. As well as people looking for a quick buck and not doing due diligence.

Investors took to social media platforms, expressing frustration over their inability to withdraw funds from the GMG Investment platform.

Consequently, many individuals who invested in the GMG investment platform will need to come to terms with their losses and face the consequences.

3 Things You Should Know About Scam Investments

While the allure of quick and substantial returns can be tempting, it’s important to recognize the warning signs of potential scams. Many fraudulent schemes prey on individuals by making enticing promises of high profits with little risk involved.

Understanding the red flags associated with scam investments can help protect your hard-earned money and financial well-being.

Unrealistic Promises

Scam investments often entice individuals by offering unrealistic promises of substantial returns with minimal or no risk involved. These schemes typically appeal to people’s desire to make quick and easy money without considering the potential consequences.

They use persuasive tactics to lure in unsuspecting victims, depicting lucrative opportunities that seem too good to pass up. However, behind these enticing promises lies a web of deceit and manipulation designed to exploit investors for personal gain.

It’s crucial to exercise caution and conduct thorough research before investing to avoid falling victim to such fraudulent schemes. Remember, if something sounds too good to be true, it probably is.

Pressure To Invest Quickly

Scam investments often employ high-pressure tactics to coerce individuals into making hasty investment decisions. These schemes capitalize on the fear of missing out on a seemingly lucrative opportunity by creating a sense of urgency and scarcity.

By imposing tight deadlines or emphasizing limited availability, scammers aim to prevent potential investors from conducting proper due diligence or seeking advice from financial experts.

The pressure to invest quickly is a common strategy used to manipulate emotions and cloud judgment, making individuals more susceptible to falling victim to fraudulent schemes.

Lack Of Regulations

Scam investments like GMG investments often thrive in environments where regulations are lacking or poorly enforced. Without stringent oversight and regulatory frameworks in place, fraudulent schemes can operate with impunity, preying on unsuspecting investors with impunity.

The absence of regulations allows scammers to fabricate investment products, manipulate financial information, and mislead individuals without fear of legal repercussions. This lack of oversight creates an environment where deceitful practices can flourish, putting investors at a higher risk of falling victim to financial fraud.

It underscores the importance of investing in regulated markets and conducting thorough due diligence to protect oneself from potential scams. Remember, a lack of regulation should serve as a red flag for investors and prompt them to proceed with caution.

How To Protect Your Funds From Scam Investments

Protecting your funds from scam investments is crucial in today’s financial landscape. With the rise of fraudulent schemes and deceptive practices, it’s important to be vigilant and proactive in safeguarding your hard-earned money.

Here are some essential tips to help you protect your funds from scam investments:

1. Research and Due Diligence

Before making any investment, thoroughly research the company, product, or opportunity. Look for reviews, ratings, and feedback from other investors. Check if the company is registered with the appropriate regulatory authorities and if it has a solid track record.

2. Be Skeptical of High Returns

If an investment opportunity promises unusually high returns with little or no risk, it’s likely too good to be true. Scammers often lure investors with the promise of quick and substantial profits, so be cautious of any investment that sounds too good to be true.

3. Avoid Pressure Tactics

Scammers often use high-pressure sales tactics to push you into making a quick decision. Be wary of anyone who tries to rush you into an investment without giving you time to do your own research and due diligence.

4. Verify Credentials

Always verify the credentials of the individuals and firms offering investment opportunities. Check to see if they are licensed and registered with the appropriate regulatory bodies. Be cautious of individuals who are not transparent about their background and qualifications.

5. Watch Out for Red Flags

Be on the lookout for common red flags that may indicate a potential scam, such as unregistered securities, complex investment structures, a lack of clear information, and a reluctance to provide documentation or disclosures. GMG investments showed potential red flags, such as a lack of transparency regarding their operations, the use of suspicious communication methods, and an unverifiable track record of success.

6. Diversify Your Investments

Diversifying your investment portfolio can help mitigate the impact of any fraudulent schemes. By spreading your funds across different asset classes and investment opportunities, you can reduce the risk of losing all your money to a single scam.

7. Seek Professional Advice

Consider seeking advice from a qualified financial advisor or investment professional before making any significant investment decisions. An experienced advisor can provide valuable insights and help you navigate the complexities of the investment landscape.

8. Stay Informed

Stay informed about the latest investment scams and fraudulent activities. Keep up with news and updates from reputable financial sources, and be aware of common tactics used by scammers to deceive investors.

9. Trust Your Instincts

If something doesn’t feel right or if you have doubts about an investment opportunity, trust your instincts and proceed with caution. It’s better to walk away from a potentially risky investment than to fall victim to a scam.

10. Report Suspicious Activities

If you come across a potential scam or fraudulent investment, report it to the relevant authorities immediately. By reporting suspicious activities, you can help protect other investors from falling victim to the same scheme.

Protecting your funds from scam investments requires diligence, skepticism, and a proactive approach. By staying informed, conducting thorough research, and seeking professional advice, you can reduce the risk of falling victim to fraudulent schemes and safeguard your financial future.

Educational Initiatives

In response to the proliferation of investment scams, educational initiatives have emerged to raise awareness about the risks associated with investing. By equipping individuals with the knowledge they need to make informed decisions, these initiatives aim to mitigate the prevalence of fraudulent schemes.

Regulatory Measures

Government agencies in Nigeria are tasked with regulating investment activities and protecting consumers from fraudulent schemes. Efforts to crack down on companies like GMG Investment are ongoing, but investors must remain vigilant to avoid falling prey to scams.

Recovery Options

In the unfortunate event that an individual falls victim to an investment scam like GMG Investment scam, some steps can be taken to seek recourse. These may include reporting the scam to relevant authorities, seeking legal assistance, and exploring options for recovering lost funds.


After researching GMG Investment in Nigeria, it is important to be aware of the following key points about potential scam investments: First, it is crucial to thoroughly research and verify the legitimacy of any investment opportunity, especially those promising high returns with minimal risk.

In the case of the GMG investment, there were reports of fraudulent activities and misleading information, indicating a potential scam. Second, it is essential to exercise caution and skepticism when dealing with investment opportunities that seem too good to be true. High-pressure sales tactics and promises of quick profits should raise red flags and prompt further investigation.

Lastly, seeking advice from financial professionals or conducting due diligence through reliable sources can help investors avoid falling victim to scam investments like GMG. Staying informed and vigilant is key to protecting oneself from fraudulent schemes and making sound investment decisions in Nigeria or any other market.


Is GMG Investment in Nigeria a legitimate company?

While GMG Investment presents itself as a legitimate financial institution, there has been proof that it is a scam and an impersonator.

How can I protect myself from scam investments like GMG?

To protect yourself from investment scams, it’s crucial to be skeptical of promises of high returns with little risk, conduct thorough research before investing, and seek advice from financial professionals.

Are there any legitimate investment opportunities in Nigeria?

Yes, there are many legitimate investment opportunities in Nigeria. However, it’s essential to conduct thorough research and due diligence before investing to ensure the legitimacy of any opportunity.


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