Abuja – In a bid to protect Nigerians from fraudulent investment schemes, the Economic and Financial Crimes Commission (EFCC) has issued a public alert on the operations of 58 illegal Ponzi scheme operators.
These companies, according to EFCC, posing as legitimate investment entities, have been defrauding unsuspecting citizens of their hard-earned money.
The EFCC, in a statement made available via the Commission’s X handle, emphasised its commitment to sanitising the nation’s financial space and providing the public with reliable information to curb the activities of fraudulent operators.
The Commission disclosed that the flagged companies are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC), the two primary regulatory bodies overseeing financial and investment activities in the country. Both regulators confirmed in separate correspondences with the EFCC that the companies are not authorised to operate.
According to the EFCC, several of these companies have already been charged to court, with five convicted and another five pleading guilty while awaiting the review of facts. The remaining cases are pending arraignment.
The Commission released the names of the 58 companies involved in these illegal operations, urging the public to exercise caution and avoid engaging with them.
Some of the notable names include Wales Kingdom Capital, Bethseida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, Farmforte Limited & Agro Partnership Tech, Green Eagles Agricbusiness Solution Limited, Richfield Multiconcepts Limited, Forte Asset Management Limited, (Biss Networks Nigeria Limited, S Mobile Netzone Limited, Pristine Mobile Network), Letsfarm Integrated Services, Bara Finance & Investment Limited, Vicampro Farms Limited, Brooks Network Limited, Gas Station Supply Services Limited, Brass & Books Limited, (Annexation Biz Concept & Maitanbuwal Global Venturescrowdyvest Limited,) and Crowdyvest Limited,
Others are : Jadek Agro Connect Limited, Adeeva Capital Limited, Oxford International Group and Oxford Gold Integrated, Skapomah Global Limited, MBA Trading & Capital Investment Limited, TRJ Company Limited, Farm4Me Agriculture Limited, Quintessential Investment Company, Adeprinz Global Enterprises, Rockstar Establishment Limited, SU.Global Investment, Citi Trust Funding PLC, Farm Buddy, Eatrich 369 Farms & Food, Globertrot Farmsponsors Nigeria Limited, Farm Sponsors Limited, Cititrust Credit Limited, Farmfunded Agroservices Limited, Adamakin Investment & Works Limited.
The rest include: Cititrust Holding PLC, Green Eagles Agribusiness Solutions Limited, Chinmark Homes & Shelters Limited, Emerald Farms & Consultant Limited, Ovaioza Farm Produce Storage Limited, Farm 360 & Agriculture Company, Requid Technologies Limited, West Agro Agriculture & Food Processing Limited, NISL Ventures Limited & Estate of Laolu Martins, XY Connect Investment Limited, River Branch Unique Investment Limited, Hallmark Capital Limited, CJC Markets Limited, Crowd One Investment, Farmkart Foods Limited, KD Likemind Stakeholders Limited, Holibiz Finance Limited, Ifeanyi Okpe Oil & Gas Services, Servapps Nigeria Limited, Barrick Gold Mining Company and 360 Agric Partners Limited.
The EFCC reiterated its dedication to safeguarding the public from predatory operators and ensuring the integrity of Nigeria’s financial system. The Commission assured Nigerians of its vigilance and proactive monitoring of all entities operating within the nation’s economic space. It also emphasised its commitment to using its anti-corruption mandate to stimulate economic growth and protect citizens from opportunistic fraudsters.
The public is advised to verify the registration status of any investment company with the CBN and SEC before committing funds. The EFCC also encouraged victims of these schemes to report their experiences to the Commission for further investigation and possible restitution.
