Shocking: 33 TV Channels To Be Banned for Promoting ‘Doubling Money’ in Ghana

The Securities and Exchange Commission (SEC) has published a list of 33 television channels across Ghana that have been found promoting deceptive and unlicensed investment schemes.

This follows a comprehensive investigation into misleading financial advertisements that potentially endanger unsuspecting viewers.

In a public notice dated November 24, 2025, the SEC outlined the fraudulent schemes and the respective TV stations involved, including popular names such as ECO Cash, Airopay, Nana Bodom, and Worldremit. Some of the identified TV stations include Advice TV, Adwenpa TV, Akyedie TV, Asomafo TV, Big TV, and Eagle TV.

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The fraudulent advertisements typically involve promises of ‘Money Doubling’, with names like “Instant Money,” “IMONEY,” “Wave Money Transfer,” and others suggesting links to reputable financial institutions.

According to the SEC, these promotions violate Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929), as amended.

The regulatory body is urging the general public to remain vigilant and avoid investing in schemes that are not licensed or approved.

The notice further cautions individuals and organizations involved in such activities, referencing Section 144(1) of the Securities Industry Act and Section 294(1)(b) of the Companies Act.

It emphasizes that it is a criminal offense to promote or advertise securities-related services and products without proper licensing or authorization from the SEC.

The Commission urged Ghanaians to be vigilant and to verify the licensing status of any investment firm by contacting the SEC via its toll-free line (0800100065), main line (0302768970-2), or email at [email protected].

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This action underscores the SEC’s commitment to protecting investors and maintaining the integrity of Ghana’s capital market amidst rising reports of financial scams.

This warning comes amid growing concerns about financial scams exploiting vulnerable individuals under the guise of investment opportunities broadcast on local media platforms.

The SEC emphasizes that it will continue to monitor and take firm action against institutions and media houses that flout financial regulations, as part of efforts to safeguard the integrity of Ghana’s investment space.

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