The Economic and Financial Crimes Commission (EFCC) has sounded the alarm on the operations of 58 illegal Ponzi scheme operators, defrauding unsuspecting Nigerians.
In a statement issued on Monday, the anti-graft agency disclosed that these companies were masquerading as legitimate investment entities but were not registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).
Both regulators, in separate communications with the EFCC, confirmed that these firms lacked official approval to operate in Nigeria’s financial sector.
The commission disclosed that legal action had been taken against several of these companies, with five already convicted and another five awaiting sentencing after pleading guilty.
Cases against the remaining firms were said to be at different stages of prosecution.
The EFCC provided a list of the fraudulent companies, which 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 Agribusiness 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
Crowdyvest Limited
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
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
Adamakin Investment & Works Limited
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
360 Agric Partners Limited
The EFCC assured Nigerians of its commitment to monitoring and shutting down fraudulent financial schemes, urging the public to verify investment companies with relevant authorities before engaging with them.
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