The National Treasury has cautioned Kenyans against falling prey to a fraudulent online investment scheme falsely claiming to offer Treasury-backed securities and cryptocurrency products.
The fake notice, which circulated widely on Monday, September 1, promised participants “quick and guaranteed returns” through a supposed government-backed program. It alleged to launch “Online Investment Sessions” under the Treasury’s guidance, offering opportunities in Treasury Bills, Treasury Bonds, Infrastructure Bonds, and regulated Crypto ETFs.
According to the scam, individuals could invest between Ksh10,000 and Ksh50,000 and receive fixed profits within three hours—an unrealistic promise that raised immediate red flags. To lure unsuspecting investors, the notice blended traditional government securities with “supervised exposure to digital assets.”
In a statement, Treasury strongly distanced itself from the scheme, stressing that no such initiative exists or has been sanctioned. “The poster circulating online, claiming to be from the National Treasury, is FAKE. Kindly ignore it and do not share further,” the ministry stated.
One of the most glaring warning signs was the inclusion of a personal WhatsApp number, through which interested parties were urged to register and invest almost instantly. The offer also featured suspicious “investment charges” and guaranteed profits—hallmarks of fraudulent activity.
Legitimate government securities are issued strictly through the Central Bank of Kenya (CBK) under transparent procedures. These include official gazette notices and publications in the government newspaper My Gov, with clear details such as timelines and investment channels. Importantly, government investments never involve third-party registrations.
The scam alert comes just a week after Treasury terminated 20 open framework tenders advertised last year and earlier this year for goods and services ranging from newspapers to agricultural equipment. The cancellations were executed in line with the Public Procurement and Asset Disposal Act of 2015.
Authorities have urged the public to remain vigilant and report suspicious schemes to the Capital Markets Authority (CMA) or other relevant regulators. The growing wave of online fraud, they warn, threatens to exploit Kenyans seeking safe investment opportunities.
