The Economic and Financial Crimes Commission (EFCC) has identified 58 companies operating fraudulent investment schemes across Nigeria. These entities, falsely presenting themselves as legitimate investment firms, have been accused of defrauding unsuspecting Nigerians of their money.
According to the EFCC, none of these companies are registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC). Both regulatory bodies have confirmed their non-registration, raising concerns about their operations.
Legal actions have already been initiated against many of these firms. Five companies have been convicted, while another five have pleaded guilty and are awaiting further proceedings. The remaining cases are pending trial.
Below is a list of some of the identified Ponzi scheme operators:
- 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
- Biss Networks Nigeria Limited
- Pristine Mobile Network
- Letsfarm Integrated Services
- Bara Finance & Investment Limited
- Vicampro Farms Limited
- Brooks Network Limited
- Brass & Books Limited
- Crowdyvest Limited
- Jadek Agro Connect Limited
- Oxford International Group
- MBA Trading & Capital Investment Limited
- Farm4Me Agriculture Limited
- Quintessential Investment Company
- SU Global Investment
- Citi Trust Funding PLC
- Eatrich 369 Farms & Food
- Farm Sponsors Limited
- Farmfunded Agroservices Limited
- Chinmark Homes & Shelters Limited
- Ovaioza Farm Produce Storage Limited
- XY Connect Investment Limited
- Hallmark Capital Limited
- Crowd One Investment
- Farmkart Foods Limited
- 360 Agric Partners Limited
The EFCC remains committed to safeguarding Nigerians from fraudulent financial activities and ensuring that illegal operators face justice. The public is urged to verify investment firms with regulatory bodies before committing funds.
