Metro
EFCC Publishes Full List of 58 Ponzi Scheme Companies Defrauding Nigerians
- The EFCC has identified and published a list of 58 companies operating fraudulent Ponzi schemes in Nigeria.
- These companies are not registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).
- Some of the firms have been charged to court, with five convicted and others awaiting trial.
The Economic and Financial Crimes Commission (EFCC) has warned Nigerians about 58 companies operating as Ponzi schemes, deceiving unsuspecting investors while posing as legitimate investment platforms.
EKO HOT BLOG reports that according to the EFCC, these companies are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC). Both regulatory bodies confirmed in separate communications with the EFCC that they have no records of these entities.
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Here is the full list of the 58 companies identified by the EFCC as Ponzi schemes:
- Wales Kingdom Capital
- Bethsaida 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
FURTHER READING
These companies have been flagged by the EFCC for operating as Ponzi schemes, and some have already been charged to court, with a few convictions secured.
EFCC spokesperson Dele Oyewale stated that several of these companies have already been charged to court, with five convictions secured. Another five have pleaded guilty and are awaiting a review of their cases, while others are pending arraignment.
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