EFCC Releases Names Of 58 Illegal Ponzi Scheme Operators

The Economic and Financial Crimes Commission (EFCC) has alerted Nigerians to the operations of 58 companies, which are Ponzi schemes posturing as investing entities and defrauding innocent Nigerians of their hard-earned money.

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

The companies are Wales Kingdom Capital, Bethsaida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, and 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 Venturescrowdyvest Limited,) and Crowdyvest Limited,

Others are 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.

The rest include  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.

EFCC spokesperson Dele Oyewale said the Commission has charged many of the companies to court, with five of them convicted. Another five pleaded guilty but are awaiting review of facts, while the rest are pending arraignment.