The Economic and Financial Crimes Commission (EFCC) has issued a public alert regarding 58 companies allegedly operating illegal Ponzi schemes across Nigeria. These companies are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC), and are accused of defrauding unsuspecting Nigerians under the guise of investment opportunities.
Notable companies identified include:
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
Crowdyvest Limited
The EFCC has initiated legal proceedings against several of these firms, resulting in five convictions, with additional cases pending. The public is advised to exercise caution and verify the legitimacy of investment platforms before engaging, by consulting regulatory bodies like the CBN and SEC.
