EFCC Uncovers 58 Fraudulent Investment Companies Defrauding Nigerians

The Economic and Financial Crimes Commission (EFCC) has identified 58 unregistered investment companies operating illegal Ponzi schemes in Nigeria, defrauding citizens of their hard-earned money. The EFCC urges the public to exercise caution and verify the legitimacy of investment firms before engaging with them.

The Economic and Financial Crimes Commission (EFCC) has uncovered 58 fraudulent companies operating illegal investment schemes, deceiving unsuspecting Nigerians and embezzling their hard-earned money.

The EFCC states that these companies present themselves as legitimate investment platforms but do not have the necessary registration with either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).

The anti-graft agency discovered this after receiving separate correspondences from both regulatory bodies, which confirmed the illegal status of the firms.

In a statement released on Tuesday by Dele Oyewale, the Head of Media and Publicity for the EFCC, the Commission announced that it has already initiated legal proceedings against many of these companies.

Five of the companies have been convicted, while another five have pleaded guilty and are awaiting a review of facts. The other cases are still pending arraignment.

This crackdown is part of the EFCC’s continuous efforts to clean up Nigeria’s financial landscape and safeguard the public against predatory operators.

The Commission has promised Nigerians that it will remain vigilant in overseeing economic activities and is dedicated to leveraging its anti-corruption authority to drive economic growth.

As stated, the EFCC has identified a total of 58 companies in its comprehensive list, including:

• 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