FULL LIST: 58 illegal Ponzi scheme operators Nigerians should be aware of

The Economic and Financial Crimes Commission (EFCC) has warned Nigerians to be aware of illegal Ponzi scheme operators who defraud people under the guise of investment opportunities. The anti-graft agency said in a statement on Tuesday, March 11, 2025, that the companies are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC), making their operations illegal. While making the disclosure, the EFCC’s Head of Media and Publicity, Dele Oyewale, revealed that legal action had been taken against many of the entities, leading to the conviction of five. Another five have pleaded guilty and are awaiting further judicial processes. Meanwhile, other cases are still pending in court, Oyewale added. ALSO READ: EFCC returns recovered over $132k, Bitcoin to foreign fraud victims “In line with its commitment to sanitising the financial space of the nation and providing the investing public with adequate and reliable information, the EFCC hereby alerts Nigerians to the operations of 58 companies posturing as investing entities but defrauding innocent citizens of their hard-earned money,” the statement read in part. The EFCC Spokesman assured the public of the anti-graft agency’s commitment to aggressive monitoring and prosecution of fraudulent investment schemes, warning Nigerians to exercise caution before committing funds to any financial entity without due registration with regulatory bodies. “We urge the public to verify any investment opportunity with the CBN and SEC before engaging. The EFCC remains committed to safeguarding the public from predatory operators and ensuring a corruption-free economic environment,” the statement added. Oyewale enjoined victims of fraudulent schemes to come forward with complaints and assured them that efforts were ongoing to recover funds where possible. ALSO READ: Olukoyede seeks return of Nigeria’s stolen assets, hands over proceeds to U.S. Below are the 58 illegal Ponzi scheme operators Nigerians according to the EFCC: Richfield Multiconcepts LimitedLetsfarm Integrated ServicesBara Finance & Investment LimitedVicampro Farms LimitedBrooks Network LimitedGas Station Supply Services LimitedBrass & Books LimitedAnnexation Biz ConceptMaitanbuwal Global VenturesCrowdyvest LimitedJadek Agro Connect LimitedAdeeva Capital LimitedOxford International GroupOxford Gold IntegratedSkapomah Global LimitedMBA Trading & Capital Investment LimitedTRJ Company Limited,Farm4Me Agriculture LimitedQuintessential Investment CompanyAdeprinz Global EnterprisesRockstar Establishment LimitedSU.Global InvestmentCiti Trust Funding PLCFarm BuddyEatrich 369 Farms & FoodGlobertrot Farmsponsors Nigeria LimitedFarm Sponsors LimitedCititrust Credit LimitedFarmfunded Agroservices LimitedAdamakin Investment & Works LimitedCititrust Holding PLCGreen Eagles Agribusiness Solutions LimitedChinmark Homes & Shelters LimitedEmerald Farms & Consultant LimitedOvaioza Farm Produce Storage LimitedFarm 360 & Agriculture CompanyRequid Technologies LimitedWest 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 InvestmentFarmkart Foods LimitedKD Likemind Stakeholders LimitedHolibiz Finance LimitedIfeanyi Okpe Oil & Gas ServicesServapps Nigeria LimitedBarrick Gold Mining Company360 Agric Partners LimitedWales Kingdom CapitalBethseida Group of CompaniesAQM Capital LimitedTitan Multibusiness Investment LimitedBrickwall Global Investment LimitedForte Asset Management LimitedBiss Networks Nigeria Limited (S Mobile Netzone Limited, Pristine Mobile Network)