EFCC Warns Public About 58 Illegal Ponzi Scheme Operators (See List)

The Economic and Financial Crimes Commission (EFCC) has issued a public alert regarding the activities of 58 companies allegedly operating illegal Ponzi schemes across Nigeria.

In a statement on Tuesday, on its verified Facebook account, the anti-graft agency warned that these companies pose as investment entities but are defrauding unsuspecting Nigerians of their hard-earned money. The EFCC noted that the firms are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC).

According to the EFCC, both regulatory bodies confirmed in separate correspondences that the companies lack the required registration to operate as legitimate investment firms.

“The Commission has charged many of these companies to court. Five have already been convicted, another five have pleaded guilty but are awaiting a review of facts, while the rest are pending arraignment,” the EFCC stated.

The EFCC named the following firms among those engaging in illegal financial activities:

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 Agribusiness Solution Limited

Richfield Multiconcepts Limited

Forte Asset Management Limited

Letsfarm Integrated Services

Bara Finance & Investment Limited

Vicampro Farms Limited

Brooks Network Limited

Gas Station Supply Services Limited

Brass & Books Limited

Crowdyvest Limited

Jadek Agro Connect Limited

Adeeva Capital Limited

Oxford International Group and Oxford Gold Integrated

MBA Trading & Capital Investment Limited

TRJ Company Limited

Farm4Me Agriculture Limited

Quintessential Investment Company

Rockstar Establishment Limited

SU Global Investment

Citi Trust Funding PLC

Farm Buddy

Eatrich 369 Farms & Food

Farm Sponsors Limited

Cititrust Credit Limited

Farmfunded Agroservices Limited

Chinmark Homes & Shelters Limited

Ovaioza Farm Produce Storage Limited

Requid Technologies Limited

Crowd One Investment

Farmkart Foods Limited

Holibiz Finance Limited

Ifeanyi Okpe Oil & Gas Services

Barrick Gold Mining Company

360 Agric Partners Limited

The EFCC reiterated its commitment to safeguarding the financial space by closely monitoring economic activities and taking legal action against fraudulent entities. It urged Nigerians to exercise caution before investing in any financial schemes and to verify the legitimacy of investment firms through appropriate regulatory bodies.

The Commission assured the public of its continued vigilance to protect citizens from financial fraud and stimulate growth in Nigeria’s economy.

Source:- Vanguardngr

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