NewStats: 3,259,448 , 8,170,128 topics. Date: Sunday, 25 May 2025 at 03:24 AM 466e71

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 , 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 ed 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 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.

https://www.vanguardngr.com/2025/03/efcc-warns-public-about-58-illegal-ponzi-scheme-operators/

I can't forget in 2020 or 2021 when I was a victim of one of these guys, Obaforex who would promise investors 25% ROI for 12 months. Someone introduced me to the scheme and it looked promising.

They stopped paying after the first two months I invested, mind you, a friend that introduced me has collected well over 12 months ROI, one of the reasons I trusted them.

Then, they would tell us they were having some financial issues promising to settle all their investors when they sort their issues. They even had a TG group where they would update us on recent happenings, people would lament, curse, threaten them but everything died a natural death when after months nothing was forthcoming, we had to accept our fate as these guys went into oblivion before our eyes.

What I have noticed about being duped is that one must have shown a certain level of greediness before you can be deceived into committing financial mistakes. These fraudsters come with very juicy, surreal offers that make one's brain stop thinking altogether, before you know what is happening, the deed has been done.

Noted.

Where's CBEX?

More than half of this list don cast for over 2 years

They should also warn about those crazy loan companies

Where neolife?

Anybody that still believes in Ponzi scheme should have his/her head examined.

Where's APC on that list?.... Nobody has scammed me more than APC has done in the last 3 years. Yes I lost money to ponzi schemes, but I lost my life in this APCs regime. I am not living my dream life in other words am a walking dead. I have come to understand that I am immortal, not APC or any other ponzi schemes can do anything again.

COMRADES, nice one from the EFCC, I wish the EFCC will channel the same energy on these political office holders so they can make Nigeria a place to be

Islie:


https://www.vanguardngr.com/2025/03/efcc-warns-public-about-58-illegal-ponzi-scheme-operators/

What of Agropark under the chief thief sola Olunowo?

Go after dem the day u harass Yahoo boys and stop warning us

Am about to start my own.

WKC tops the list, lol.

The level of financial destruction that guy caused his investors is second to none.

Alot of "farm" & "agriculture" coys on the list. Is that the new highway?

Same people running it with different names. They will release more names soon since EFCC don cast this one

crowd one

Interesting

4tomandchi:
They should also warn about those crazy loan companies

Very crazy people.

tell those gullible giraffe 🦒 🤣 neck people

Islie:


Bara Finance & Investment Limited

That name sounds ridiculous.... BARA means beg for alms ,

Versitee:
More than half of this list don cast for over 2 years

You know ball.

How about online loans. Ban them sharply🤣😂

Let me use this opportunity to report Virtuegold Investment Limited a ponzi scheme company located at Rumuosi junction, East/West Road in Port Harcourt the said fraudulent company absconded with millions of naira belonging to poor citizens since last year.

The said company was headed by one chijioke whose surname I can't at this time.


Before this week runs out I will visit the Efcc Port Harcourt zonal office to lay a proper complaint. Then, I will gather the necessary documents and the names of directors of the said fraudulent company.

Nigeria, breeding grounds for financial crimes from top to bottom.. If you know, you know.

I the days of MMM .Nah so one Military wife cajole me to (May her soul 🙏)Whosai ! Not me.Few weeks later,MMM CRASHED
I give God PRAISE.
2nd
My uncle wife Came one day and told me story about popular Agro abi nah green farm . Mbanu not me.I warned her.She blocked her ear with cotton wool until those ones too runaway with her money.She's wise now.God help u to go market rubbish/ask her to quick money venture

Greed will kill a greedy person

Crowd one investment chop my #150,000 naira by three different agents and others are still calling me to continue investing into the mumu scheme.I still believe that those guys that duped me of my hard earned money will never Scott free,a divine punishment is surely awaiting them.