FULL LIST: EFCC Warns Nigerians To Avoid 58 Illegal Ponzi Scheme Operators
The Economic and Financial Crimes Commission (EFCC) has raised an alarm over the activities of 58 companies operating illegal Ponzi schemes across the country.
The anti-graft commission in a statement issued on Tuesday warned that the companies are defrauding innocent Nigerians of their hard-earned money by masquerading as legitimate investment firms.
According to the EFCC, none of the companies are registered with the Central Bank of Nigeria (CBN) or the Security Exchange Commission (SEC).
Both regulatory bodies, in separate correspondences with the anti-graft agency, denied any affiliation with these entities, reinforcing the illegitimacy of their operations.
The EFCC disclosed that legal actions have already been initiated against several of these firms.
The Commission noted that while five companies have been convicted, another five have pleaded guilty and are awaiting a review of facts, while cases against the remaining firms are pending arraignment.
The companies 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 include 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, http://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, and Adamakin Investment & Works Limited.
Others are 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 assured the public of its continued vigilance in monitoring financial activities across the nation.
The commission said it remains committed to identifying and prosecuting opportunistic and predatory operators who exploit unsuspecting investors.
It advised Nigerians to exercise caution when investing and verify the legitimacy of investment firms through appropriate regulatory agencies before engaging in any financial transactions.
