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;
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.
court struck out the names of 35 state Attorney Generals who are listed as defendants…
Meta has said on its website that it has invested billions since 2019 to improve…
The church has served as a refuge for Gaza’s small Christian population during the war.
Pastor Wilson, founder of Pastor Reuben Initiative for Good Leadership and Accountability, PRIFGLA, noted that…
The ADC therefore calls for a full and independent audit, financial, technical, and structural before…
The United Kingdom is bracing for a wave of thunderstorms over the next
This website uses cookies.