EFCC Warns Nigerians Against 58 Alleged Ponzi Scheme Operators (Full List)

The Economic and Financial Crimes Commission (EFCC) has issued a public warning against 58 companies allegedly operating illegal Ponzi schemes in Nigeria. According to a statement released on Tuesday by Dele Oyewale, spokesperson of the EFCC, these companies are masquerading as legitimate investment firms while defrauding unsuspecting Nigerians of their money.

The EFCC noted that none of the companies are registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC). Oyewale said both regulatory bodies confirmed to the EFCC that they have no official record or approval of the companies in question.

The anti-graft agency revealed that it has already taken legal action against several of the companies. Five have been convicted, another five have pleaded guilty and are awaiting a review of facts, while the rest are pending arraignment.

The full list of alleged Ponzi operators includes: 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 are Jadek Agro Connect Limited, Adeeva Capital Limited, Oxford International Group, 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, 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.

Also listed 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 emphasized its continued commitment to tracking down fraudulent investment operations and safeguarding the financial well-being of Nigerians.