EFCC publishes list of scam companies, warns Nigerians about Ponzi schemes
The Economic and Financial Crimes Commission has issued a public alert regarding the activities of 58 companies allegedly operating illegal Ponzi schemes under the guise of investment opportunities.
The anti-graft agency said the companies were neither registered with the Central Bank of Nigeria nor the Securities and Exchange Commission.
EFCC said it had taken legal action against many of the entities, leading to the conviction of five, while another five have pleaded guilty and are awaiting further judicial processes.
The companies are Wales Kingdom Capital, Bethseida Group of Companies, AQM Capital Ltd, Titan Multibusiness Investment Ltd, Brickwall Global Investment Ltd, Farmforte Ltd & Agro Partnership Tech, Green Eagles Agricbusiness Solution Ltd, Richfield Multiconcepts Ltd, Forte Asset Management Ltd, Biss Networks Nigeria Ltd, S Mobile Netzone Ltd.; Pristine Mobile Network, and Letsfarm Integrated Services.
Others are Bara Finance & Investment Ltd, Vicampro Farms Ltd, Brooks Network Ltd, Gas Station Supply Services Ltd, Brass & Books Ltd, Annexation Biz Concept & Maitanbuwal Global Venturescrowdyvest Ltd, and Crowdyvest Ltd.
Also listed are Jadek Agro Connect Ltd, Adeeva Capital Ltd, Oxford International Group and Oxford Gold Integrated, Skapomah Global Ltd, MBA Trading & Capital Investment Ltd, TRJ Company Ltd, Farm4Me Agriculture Ltd, Quintessential Investment Company, deprinz Global Enterprises, Rockstar Establishment Ltd, S.U. Global Investment, Citi Trust Funding PLC, Farm Buddy, Eatrich 369 Farms & Food, and Globertrot Farmsponsors Nig. Ltd.
Farm Sponsors Ltd, Cititrust Credit Ltd, Farmfunded Agroservices Ltd, Adamakin Investment & Works Ltd, Cititrust Holding PLC, Green Eagles Agribusiness Solutions Ltd, Chinmark Homes & Shelters Ltd, Emerald Farms & Consultant Ltd, Ovaioza Farm Produce Storage Ltd, Farm 360 & Agriculture Company, Requid Technologies Ltd, West Agro Agriculture & Food Processing Ltd, NISL Ventures Ltd & Estate of Laolu Martins, XY Connect Investment Ltd, River Branch Unique Investment Ltd, Hallmark Capital Ltd, CJC Markets Ltd, Crowd One Investment, and Farmkart Foods Ltd were also listed.
Other alleged scam companies on the EFCC alert are KD Likemind Stakeholders Ltd, Holibiz Finance Ltd, Ifeanyi Okpe Oil & Gas Services, Servapps Nigeria Ltd, Barrick Gold Mining Company and 360 Agric Partners Ltd.
The anti-graft agency assured the public of its continued vigilance in monitoring financial activities across the nation.
It advised Nigerians to exercise caution when investing and verify the legitimacy of investment firms through appropriate regulatory agencies before engaging in any financial transactions.
(NAN)
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