CBEX: 60 illegal ponzi operators to avoid in Nigeria

The Economic and Financial Crimes Commission (EFCC) has warned citizens to steer clear of 60 illegal Ponzi scheme operators in Nigeria.

These companies, operating without registration with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), have been identified as potential threats to the financial well-being of unsuspecting Nigerians.

According to the EFCC, some of these operators have already faced legal action, with five convicted and another five pleading guilty, awaiting sentencing.

The commission’s warning comes as a timely reminder for Nigerians to exercise caution when investing their hard-earned money.

The list of operators to avoid includes companies operating in various sectors, including agriculture, investment, and finance.

Full list below;

1. Wales Kingdom Capital
2. Bethseida Group of Companies
3. AQM Capital Limited
4. Titan Multibusiness Investment Limited
5. Brickwall Global Investment Limited
6. Farmforte Limited & Agro Partnership Tech
7. Green Eagles Agribusiness Solution Limited
8. Richfield Multiconcepts Limited Forte Asset Management Limited
9. Biss Networks Nigeria Limited
10. S Mobile Netzone Limited
11. Pristine Mobile Network
12. Letsfarm Integrated Services
13. Bara Finance & Investment Limited
14. Vicampro Farms Limited
15. Brooks Network Limited
16. Gas Station Supply Services Limited
17. Brass & Books Limited
18. Annexation Biz Concept & Maitanbuwal Global Venturescrowdyvest Limited
19. Crowdyvest Limited
20. Jadek Agro Connect Limited
21. Adeeva Capital Limited
22. Oxford International Group
23. Oxford Gold Integrated
24. Skapomah Global Limited
25. MBA Trading & Capital Investment Limited
26. TRJ Company Limited
27. Farm4Me Agriculture Limited
28. Quintessential Investment Company
29. Adeprinz Global Enterprises
30. Rockstar Establishment Limited
31. SU.Global Investment
32. Citi Trust Funding PLC
33. Farm Buddy
34. Eatrich 369 Farms & Food
35. Globertrot Farmsponsors Nigeria Limited
36. Farm Sponsors Limited
37. Cititrust Credit Limited
38. Farmfunded Agroservices Limited
39. Adamakin Investment & Works Limited
40. Cititrust Holding PLC
41. Green Eagles Agribusiness Solutions Limited
42. Chinmark Homes & Shelters Limited
43. Emerald Farms & Consultant Limited
44. Ovaioza Farm Produce Storage Limited
45. Farm 360 & Agriculture Company
46. Requid Technologies Limited
47. West Agro Agriculture & Food Processing Limited
48. NISL Ventures Limited & Estate of Laolu Martins
49. XY Connect Investment Limited
50. River Branch Unique Investment Limited
51. Hallmark Capital Limited
52. CJC Markets Limited
53. Crowd One Investment
54. Farmkart Foods Limited
55. KD Likemind Stakeholders Limited
56. Holibiz Finance Limited
57. Ifeanyi Okpe Oil & Gas Services
58. Servapps Nigeria Limited
59. Barrick Gold Mining Company
60. 360 Agric Partners Limited.

How to Protect Yourself

To avoid falling prey to these illegal Ponzi schemes, Nigerians are advised to:

1 Verify investment opportunities with the CBN and SEC before committing funds
2 Be wary of unusually high returns on investment
3 Research the company’s background and reputation
4 Report suspicious activities to the EFCC

By being vigilant and informed, Nigerians can protect themselves from the dangers of Ponzi schemes and make informed investment decisions. Stay safe, and stay informed.