EFCC Warns Against 58 illegal Ponzi Schemes in Nigeria

The Economic and Financial Crimes Commission (EFCC) has issued a public alert identifying 58 companies allegedly operating illegal Ponzi schemes across Nigeria.

Ponzi schemes promise high returns with minimal risk but rely on funds from new investors to pay earlier participants. Once new investments stop, the scheme collapses, leaving most investors at a loss.

According to a statement on EFCC’s official X page, these companies have been defrauding Nigerians by posing as investment platforms despite not being registered with the Securities and Exchange Commission (SEC) or the Central Bank of Nigeria (CBN).

“The Economic and Financial Crimes Commission, EFCC, hereby alerts Nigerians on the operations of 58 companies posturing as investing entities and defrauding innocent Nigerians of their hard-earned money.

The companies are neither registered with the Central Bank of Nigeria, CBN, nor the Security Exchange Commission, SEC. The two regulators, in separate correspondences with the EFCC, denied that they are registered with them,” the statement read.

The EFCC noted that legal action has been taken against some of these companies:

• Five have already been convicted.
• Another five pleaded guilty and are awaiting case reviews.
• The rest are still pending arraignment.

List of Alleged Ponzi Schemes

1. Wales Kingdom Capital
2. Bethseida Group of Companies
3. AQM Capital Limited
4. Titan Multibusiness Investment Limited
5. Brickwall Global Investment Limited
6. Farmforte Limited & Agro Partnership Tech
7. Green Eagles Agribusiness Solution Limited
8. Richfield Multiconcepts Limited
9. Forte Asset Management Limited
10. Biss Networks Nigeria Limited
11. S Mobile Netzone Limited
12. Pristine Mobile Network
13. Letsfarm Integrated Services
14. Bara Finance & Investment Limited
15. Vicampro Farms Limited
16. Brooks Network Limited
17. Gas Station Supply Services Limited
18. Brass & Books Limited
19. Annexation Biz Concept
20. Maitanbuwal Global Ventures
21. Crowdyvest Limited
22. Jadek Agro Connect Limited
23. Adeeva Capital Limited
24. Oxford International Group and Oxford Gold Integrated
25. Skapomah Global Limited
26. MBA Trading & Capital Investment Limited
27. TRJ Company Limited
28. Farm4Me Agriculture Limited
29. Quintessential Investment Company
30. Adeprinz Global Enterprises
31. Rockstar Establishment Limited
32. SU. Global Investment
33. Citi Trust Funding PLC
34. Farm Buddy
35. Eatrich 369 Farms & Food
36. Globertrot Farmsponsors Nigeria Limited
37. Farm Sponsors Limited
38. Cititrust Credit Limited
39. Farmfunded Agroservices Limited
40. Adamakin Investment & Works Limited
41. Cititrust Holding PLC
42. Green Eagles Agribusiness Solutions Limited
43. Chinmark Homes & Shelters Limited
44. Emerald Farms & Consultant Limited
45. Ovaioza Farm Produce Storage Limited
46. Farm 360 & Agriculture Company
47. Requid Technologies Limited
48. West Agro Agriculture & Food Processing Limited
49. NISL Ventures Limited & Estate of Laolu Martins
50. XY Connect Investment Limited
51. River Branch Unique Investment Limited
52. Hallmark Capital Limited
53. CJC Markets Limited
54. Crowd One Investment
55. Farmkart Foods Limited
56. KD Likemind Stakeholders Limited
57. Holibiz Finance Limited
58. Ifeanyi Okpe Oil & Gas Services

The EFCC promises the public that it would be vigilant and actively monitor all organizations and participants in the country's economy in order to protect the public from predatory and opportunistic actors and to use the tools of its anti-corruption mandate to promote economic progress.