Nigeria: EFCC alert Nigerians about 58 illegal ponzi schemes operator - see full list
The EFCC has issued a warning about 58 illegal Ponzi schemes operating in Nigeria, which are not registered with the CBN or SEC. The agency is taking legal action against these companies, urging the public to verify investment opportunities before committing funds to avoid fraudulent activities.The Economic and Financial Crimes Commission (EFCC) has raised an alarm about 58 companies involved in fraudulent Ponzi schemes targeting Nigerians. These entities, according to the EFCC, are illegally operating without registration from the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), making them a serious threat to potential investors.On March 11, 2025, Dele Oyewale, the EFCC’s Head of Media and Publicity, confirmed that the agency has taken legal action against several of these fraudulent companies. As a result, five companies have been convicted, and another five have pleaded guilty and are awaiting further legal proceedings. Other cases remain under investigation.
The EFCC emphasized that Nigerians must be cautious when seeking investment opportunities. It urged citizens to always verify any financial venture with the CBN or SEC before committing funds. The commission reaffirmed its commitment to investigating and prosecuting fraudulent operators, protecting the public from financial exploitation.
While the EFCC continues its efforts to cleanse the financial landscape, it has provided a list of 58 companies currently under scrutiny. These companies have been linked to defrauding Nigerians under the guise of legitimate investments.The full list of operators includes:
- 1. Citi Trust Funding PLC
- 2. Farm Buddy
- 3. Eatrich 369 Farms & Food
- 4. Globertrot Farmsponsors Nigeria Limited
- 5. Farm Sponsors Limited
- 6. Cititrust Credit Limited
- 7. Farmfunded Agroservices Limited
- 8. Adamakin Investment & Works Limited
- 9. Cititrust Holding PLC
- 10. Green Eagles Agribusiness Solutions Limited
- 11. Chinmark Homes & Shelters Limited
- 12. Emerald Farms & Consultant Limited
- 13. Ovaioza Farm Produce Storage Limited
- 14. Farm 360 & Agriculture Company
- 15. Requid Technologies Limited
- 16. West Agro Agriculture & Food Processing Limited.
- 17. NISL Ventures Limited & Estate of Laolu Martins
- 18. XY Connect Investment Limited
- 19. River Branch Unique Investment Limited
- 20. Hallmark Capital Limited
- 21. CJC Markets Limited
- 22. Crowd One Investment
- 23. Farmkart Foods Limited
- 24. Letsfarm Integrated Services
- 25. Richfield Multiconcepts Limited
- 26. Bara Finance & Investment Limited
- 27. Vicampro Farms Limited
- 28. Brooks Network Limited
- 29. Gas Station Supply Services Limited
- 30. Brass & Books Limited
- 31. Holibiz Finance Limited
- 32. Ifeanyi Okpe Oil & Gas Services
- 33. Servapps Nigeria Limited
- 34. Barrick Gold Mining Company
- 35. 360 Agric Partners Limited
- 36. Wales Kingdom Capital
- 37. Bethseida Group of Companies
- 38. AQM Capital Limited
- 39. Titan Multibusiness Investment Limited
- 40. Brickwall Global Investment Limited
- 41. Forte Asset Management Limited
- 42. Biss Networks Nigeria Limited (S 43.Mobile Netzone Limited, Pristine Mobile Network)
- 44. Annexation Biz Concept
- 45. Maitanbuwal Global Ventures
- 46. Crowdyvest Limited
- 47. Jadek Agro Connect Limited
- 48. Adeeva Capital Limited
- 49. Oxford International Group
- 50. Oxford Gold Integrated
- 51. Skapomah Global Limited
- 52. MBA Trading & Capital Investment Limited
- 53. TRJ Company Limited
- 54. Farm4Me Agriculture Limited
- 55. Quintessential Investment Company
- 56. Adeprinz Global Enterprises
- 57. Rockstar Establishment Limited
- 58. SU.Global Investment
- 59. KD Likemind Stakeholders Limited
- The EFCC further encouraged victims of these fraudulent schemes to come forward, assuring them of ongoing efforts to recover lost funds where possible. As part of its mission, the EFCC continues to work toward creating a safe, corruption-free economic environment for all Nigerians.