CBEX: 60 ILLEGAL PONZI SCHEMES TO STAY AWAY FROM IN NIGERIA
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The Economic and Financial Crimes Commission (EFCC) has issued a warning to Nigerians to avoid 60 unlicensed Ponzi scheme operators across the country.
These firms, which are not registered with either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), have been flagged as serious risks to the financial safety of unsuspecting citizens.
According to TribuneOnline, the EFCC revealed that legal action has already been taken against several of these operators, with five convictions secured and another five individuals having pleaded guilty and awaiting sentencing.
The commission’s warning comes as a timely reminder for Nigerians to exercise caution when investing their hard-earned money.
The list of operators to avoid includes companies operating in various sectors, including agriculture, investment, and finance.
Below is the full list as revealed by TribuneOnline:
- 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.
How to Protect Yourself
To avoid falling prey to these illegal Ponzi schemes, Nigerians are advised to:
- Verify investment opportunities with the CBN and SEC before committing funds.
- Be wary of unusually high returns on investment.
- Research the company’s background and reputation.
- Report suspicious activities to the EFCC
By being vigilant and informed, Nigerians can protect themselves from the dangers of Ponzi schemes and make informed investment decisions. Stay safe, and stay informed.
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