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The Economic and Financial Crimes Commission (EFCC) has warned Nigerians to be aware of illegal Ponzi scheme operators who defraud people under the guise of investment opportunities.
The anti-graft agency said in a statement on Tuesday, March 11, 2025, that the companies are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC), making their operations illegal.
While making the disclosure, the EFCC’s Head of Media and Publicity, Dele Oyewale, revealed that legal action had been taken against many of the entities, leading to the conviction of five. Another five have pleaded guilty and are awaiting further judicial processes.
Meanwhile, other cases are still pending in court, Oyewale added.
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“In line with its commitment to sanitising the financial space of the nation and providing the investing public with adequate and reliable information, the EFCC hereby alerts Nigerians to the operations of 58 companies posturing as investing entities but defrauding innocent citizens of their hard-earned money,” the statement read in part.
The EFCC Spokesman assured the public of the anti-graft agency's commitment to aggressive monitoring and prosecution of fraudulent investment schemes, warning Nigerians to exercise caution before committing funds to any financial entity without due registration with regulatory bodies.
“We urge the public to verify any investment opportunity with the CBN and SEC before engaging. The EFCC remains committed to safeguarding the public from predatory operators and ensuring a corruption-free economic environment,” the statement added.
Oyewale enjoined victims of fraudulent schemes to come forward with complaints and assured them that efforts were ongoing to recover funds where possible.
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Below are the 58 illegal Ponzi scheme operators Nigerians according to the EFCC:
Richfield Multiconcepts Limited
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
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
Wales Kingdom Capital
Bethseida Group of Companies
AQM Capital Limited
Titan Multibusiness Investment Limited
Brickwall Global Investment Limited
Forte Asset Management Limited
Biss Networks Nigeria Limited (S Mobile Netzone Limited, Pristine Mobile Network)