EFCC Cracks Down on Illegal Investment Schemes

The Economic and Financial Crimes Commission (EFCC) has issued a public alert about 58 companies allegedly engaged in illegal Ponzi schemes under the pretense of investment opportunities.

In a statement released in Abuja, EFCC spokesperson Dele Oyewale emphasised that the affected companies are not registered with either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), rendering their operations illegal.

The EFCC further disclosed that it has taken legal action against several implicated entities. So far, five companies have been convicted, while another five have pleaded guilty and are awaiting further judicial proceedings.

The commission urged the public to exercise caution and verify the legitimacy of investment platforms before committing their funds.

EFCC PRESS RELEASE

EFCC Alerts the Public on 58 Illegal Ponzi Scheme Operators

In line with its commitment to sanitising the financial space of the nation and offer the investing public adequate and reliable information on the activities of illegal ponzi scheme operators across… pic.twitter.com/pOZN6TtNoH

— EFCC Nigeria (@officialEFCC) March 11, 2025

The commission listed the companies as Wales Kingdom Capital, Bethseida Group of Companies; AQM Capital Ltd.; Titan Multibusiness Investment Ltd.; Brickwall Global Investment Ltd.; and Farmforte Ltd. & Agro Partnership Tech.

Others are Green Eagles Agricbusiness Solution Ltd.; Richfield Multiconcepts Ltd.; Forte Asset Management Ltd.; (Biss Networks Nigeria Ltd.; S Mobile Netzone Ltd.; Pristine Mobile Network), and Letsfarm Integrated Services.

Others are Bara Finance & Investment Ltd.; Vicampro Farms Ltd.; Brooks Network Ltd.; Gas Station Supply Services Ltd.; Brass & Books Ltd.; (Annexation Biz Concept & Maitanbuwal Global Ventures) and Crowdyvest Ltd.

Also listed are  Jadek Agro Connect Ltd.; Adeeva Capital Ltd.; Oxford International Group and Oxford Gold Integrated; Skapomah Global Ltd.; MBA Trading & Capital Investment Ltd.; TRJ Company Ltd.; and Farm4Me Agriculture Ltd.

Others are Quintessential Investment Company; deprinz Global Enterprises; Rockstar Establishment Ltd.; SU. Global Investment; Citi Trust Funding PLC; Farm Buddy; Eatrich 369 Farms & Food; and Globertrot Farmsponsors Nig. Ltd.

The commission also listed Farm Sponsors Ltd.; Cititrust Credit Ltd.; Farmfunded Agroservices Ltd.; Adamakin Investment & Works Ltd.; ititrust Holding PLC; Green Eagles Agribusiness Solutions Ltd.; and Chinmark Homes & Shelters Ltd.

Others are  Emerald Farms & Consultant Ltd.; Ovaioza Farm Produce Storage Ltd.; Farm 360 & Agriculture Company; Requid Technologies Ltd.; West Agro Agriculture & Food Processing Ltd.

Others are NISL Ventures Ltd. & Estate of Laolu Martins; XY Connect Investment Ltd.; River Branch Unique Investment Ltd.; Hallmark Capital Ltd.; CJC Markets Ltd.; Crowd One Investment; and Farmkart Foods Ltd.

The commission also listed KD Likemind Stakeholders Ltd.; Holibiz Finance Ltd.; Ifeanyi Okpe Oil & Gas Services; Servapps Nigeria Ltd.; Barrick Gold Mining Company and 360 Agric Partners Ltd.

The anti-graft agency 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.

NAN