Operatives of the Economic and Financial Crimes Commission (EFCC) have uncovered a major Ponzi scheme in Abuja, leading to the arrest of 133 suspects. The operation took place on Monday, March 24, 2025, at the Compensation Layout in Gwagwalada, Federal Capital Territory (FCT), following credible intelligence on the fraudulent activities of the group.
Ponzi Scheme Disguised as an Academy
The scheme, known as Q University (also called Q-Net), lured young Nigerians into a deceptive financial program. The suspects were recruited and trained to bring in more people with false promises of massive financial gains.
Victims were enrolled in a program titled “Special Training for New Generation Billionaires,” where they were brainwashed into believing they would become billionaires after completing the training. They joined by filling out an “Independent Representative Application Form” and were motivated with slogans such as: “I’m a Champion”, “I’m Unstoppable”, “I’m Infinity”
The operation was carried out in collaboration with officers of the 176 Guards Battalion of the Nigerian Army. During the raid, EFCC operatives recovered several items, including mobile phones, computers, and other electronic gadgets.
EFCC spokesperson, Dele Oyewale, confirmed that the suspects will be charged in court once investigations are completed. This crackdown highlights the agency’s ongoing efforts to combat financial fraud and protect Nigerians from falling victim to Ponzi schemes.
