The Economic and Financial Crimes Commission (EFCC) has raised concerns about the operations of 62 companies involved in illegal Ponzi schemes across the country.
In a statement issued on Tuesday, the anti-graft commission warned that these companies are defrauding Nigerians of their hard-earned money by posing as legitimate investment firms.
The EFCC noted that none of these companies are registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC). Both regulatory bodies have, in separate communications with the EFCC, denied any affiliation with these companies, further highlighting the illegitimacy of their operations.
The commission revealed that legal actions have already been initiated against several of these firms. While five companies have been convicted, another five have pleaded guilty and are awaiting a review of the facts. Cases against the remaining firms are still pending arraignment.
The list of companies includes:
- Wales Kingdom Capital
- Bethseida Group of Companies
- AQM Capital Limited
- Titan Multibusiness Investment Limited
- Brickwall Global Investment Limited
- 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
- Crowdyvest Limited
- 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
- Adamakin Investment & Works Limited
- 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
- 360 Agric Partners Limited
The EFCC has assured the public that it will remain vigilant in monitoring financial activities nationwide. The commission reiterated its commitment to identifying and prosecuting opportunistic operators who exploit unsuspecting investors.
It also advised Nigerians to exercise caution when making investments and to verify the legitimacy of any investment firm through the appropriate regulatory agencies before engaging in financial transactions.
