QNET, a global direct selling company specialising in wellness and lifestyle products, has strongly distanced itself from a fraudulent scheme recently uncovered by the Economic and Financial Crimes Commission (EFCC) in Abuja.
The operation, labelled a “Ponzi Scheme Academy,” falsely used QNET’s name and led to the arrest of 133 individuals who operated under misleading names like “Q University” and “Q-Net.”
However, QNET, in a press statement, released on Thursday, expressed its full support for the EFCC and the Nigerian Army for swiftly dismantling the fraudulent network. The company has also pledged to assist in the investigation and take additional measures to prevent further misuse of its brand.
According to the EFCC, the arrests were made following actionable intelligence on the existence of the so-called academy in the Compensation Layout area of Gwagwalada, Federal Capital Territory (FCT).
In its reaction, QNET said it has long been a victim of fraudulent schemes in Nigeria, adding that, “These scams have significantly harmed our reputation and misled many unsuspecting individuals. We reiterate that QNET is a legitimate e-commerce-based direct selling company that empowers Independent Distributors to promote high-quality wellness and lifestyle products in over 25 countries. We do not operate any financial recruitment schemes or “investment academies.” In Nigeria, QNET operates strictly within legal and regulatory frameworks through our local partner, Transblue Nigeria Limited.”
Regional general manager for Sub-Saharan Africa, Biram Fall, commented: “We are deeply concerned about the continued misuse of our brand by individuals attempting to deceive the public. QNET has been a victim of fraudulent activities aimed at damaging our reputation. We urge the public to verify any claims of affiliation with QNET before getting involved. We remain committed to supporting law enforcement agencies in their efforts to bring these fraudsters to justice.”
Since entering the Nigerian market in 2022, QNET and Transblue Nigeria Limited have prioritized financial literacy and consumer protection. In November 2023, we launched the Say NO! Awareness Campaign to educate the public about scams and promote responsible entrepreneurship. The campaign has reached thousands through multilingual billboards, radio messages, educational pamphlets, and online platforms. As part of this campaign, the Federal Ministry of Labour and Employment (FMLE) and the Lagos State Consumer Protection Agency (LASCOPA) were also engaged.
QNET and Transblue Nigeria Limited have formally reached out to the EFCC to offer their full cooperation and explore opportunities for collaboration, while reiterating its committed to supporting the ongoing investigation and ensuring that those misusing the QNET brand are held accountable.
To protect oneself from scams falsely linked to QNET, the company urged Nigerians to verify all QNET-related information through its website; report suspicious activity via email or website and learn how to identify scams.
“QNET remains fully committed to ethical business practices and transparency. We stand with Nigerian authorities in protecting citizens from fraud and will continue to cooperate fully to bring those misusing our brand to justice,” Fall assured.
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