Full List: EFCC Exposes 58 Illegal Ponzi Scheme Operators Defrauding Nigerians

The Economic and Financial Crimes Commission (EFCC) has issued a warning to Nigerians regarding the activities of 58 companies that are operating as Ponzi scheme while masquerading as legitimate investment firms, thereby deceiving unsuspecting individuals out of their hard-earned money.

The EFCC clarified that these companies are not registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC). Both regulatory bodies have confirmed in separate communications with the EFCC that these entities do not hold any registration with them.

Among the companies identified are Wales Kingdom Capital, Bethsaida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, and Farmforte.

Additionally, the list includes 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, and others.

Further companies on the list are 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, and Adamakin Investment & Works Limited.

The remaining entities consist of 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, and 360 Agric Partners Limited.

According to EFCC spokesperson Dele Oyewale, the Commission has initiated legal proceedings against numerous companies, resulting in the conviction of five.
An additional five have entered guilty pleas and are currently awaiting a review of the facts, while the remaining cases are pending arraignment.

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