ABUJA, Nigeria – The Economic and Financial Crimes Commission (EFCC) has issued a stark warning to the Nigerian public, urging them to avoid engaging with 58 companies alleged to be operating illegal Ponzi schemes across the nation. The EFCC emphasized that these firms are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC), making any dealings with them highly risky and potentially devastating to one’s financial well-being.
The anti-graft agency revealed that it has taken decisive action against these entities, with numerous cases already in court. “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,” stated an EFCC spokesperson.
The following firms were specifically named by the EFCC as being involved in these suspect 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
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* Ifeanyi Okpe Oil & Gas Services
* Barrick Gold Mining Company
* 360 Agric Partners Limited
The EFCC strongly advises the public to exercise extreme caution and conduct thorough due diligence before investing in any financial scheme. They reiterated the importance of verifying the legitimacy of investment companies with the CBN and SEC to avoid falling victim to fraudulent operations. The commission urged any person with information regarding these or other suspected Ponzi schemes to come forward and assist in their ongoing investigations.