The Economic and Financial Crimes Commission (EFCC), has exposed 58 fraudulent companies running illegal investment schemes and scamming Nigerians. These companies operated under the guise of legitimate investment firms but were neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC).
In a statement on Tuesday, Dele Oyewale, the EFCC’s Head of Media and Publicity, noted that the commission has taken legal action against many of these companies. So far, five companies have been convicted, while another five have pleaded guilty and are awaiting further legal proceedings. The remaining cases are still in court, with more arraignments expected.
The EFCC’s investigation was based on information received from both the CBN and SEC. The regulatory bodies confirmed that these companies were not authorized to operate as investment firms. Despite this, they lured unsuspecting Nigerians with promises of high returns, only to disappear with their money.
The commission warned Nigerians to be cautious when investing in financial schemes that promise unrealistic profits. The statement noted that many of these fraudulent companies use aggressive marketing tactics, including social media campaigns and referral bonuses, to attract new investors. Unfortunately, most victims realize too late that they have fallen into a Ponzi scheme.
According to the statement, the full list of the 58 companies identified by the EFCC includes:
- 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 Ventures
- 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
