The Economic and Financial Crimes Commission (EFCC) has unmasked 58 fraudulent investment schemes operating across Nigeria, warning the public about their illegal activities and financial dangers.
In a statement issued on Tuesday by the EFCC’s Head of Media and Publicity, Dele Oyewale, the anti-graft agency disclosed that these companies were operating without valid registration from the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), making them illegal financial entities.
According to the EFCC, many of these firms lure unsuspecting Nigerians with promises of high returns on investments, only to defraud them of their hard-earned money.
The revelation follows separate correspondences received from both regulatory bodies confirming that these entities lacked proper authorization to conduct financial transactions.
The EFCC has already begun prosecuting several of the firms involved in these fraudulent schemes. Five companies have been successfully convicted, while another five have pleaded guilty and are awaiting a review of facts.
Other cases remain in various stages of arraignment as the EFCC continues its crackdown.
“This is part of our ongoing efforts to cleanse the Nigerian financial landscape and protect citizens from exploitative schemes.
The Commission remains vigilant in monitoring illegal economic activities and will continue to enforce the law to safeguard the public,” Oyewale said.
Full List of Identified Ponzi Schemes
The EFCC provided a comprehensive list of the 58 fraudulent companies, warning Nigerians to avoid any dealings with them. The companies include:
Wales Kingdom Capital
Murtala Isah (Pharm)
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
Annexation Biz Concept
Maitanbuwal Global Ventures
Crowdyvest Limited
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
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
The EFCC has urged Nigerians to exercise extreme caution when considering investment opportunities, particularly those promising unrealistically high returns.
The agency reaffirmed its dedication to dismantling financial scams and protecting citizens from predatory financial schemes.
“We advise Nigerians to always verify the legitimacy of any financial institution with the SEC or CBN before committing their money. The EFCC will not relent in its efforts to prosecute fraudulent actors and recover stolen funds,” Oyewale added.
The Commission called on victims of these fraudulent schemes to come forward with complaints and assured them that ongoing legal proceedings aim to ensure justice and possible restitution.
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