According to the EFCC, both regulatory bodies confirmed in separate correspondences that the companies lack the required registration to operate as legitimate investment firms.
The Economic and Financial Crimes Commission (EFCC) has released names of companies operating illegal Ponzi schemes across Nigeria.
The names were released In a statement on Tuesday, on its verified Facebook account.
the anti-graft agency warned that these companies pose as investment entities but are defrauding unsuspecting Nigerians of their hard-earned money. The EFCC noted that the firms are neither registered with the Central Bank of Nigeria (CBN) nor the Securities and Exchange Commission (SEC).
According to the EFCC, both regulatory bodies confirmed in separate correspondences that the companies lack the required registration to operate as legitimate investment firms.
“The Commission has charged many of these companies to court. Five have already been convicted, another five have pleaded guilty but are awaiting a review of facts, while the rest are pending arraignment,” the EFCC stated.
The EFCC named the following firms among those engaging in illegal financial activities:
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
Letsfarm Integrated Services
Bara Finance & Investment Limited
Vicampro Farms Limited
Brooks Network Limited
Gas Station Supply Services Limited
Brass & Books Limited
Crowdyvest Limited
Jadek Agro Connect Limited
Adeeva Capital Limited
Oxford International Group and Oxford Gold Integrated
MBA Trading & Capital Investment Limited
TRJ Company Limited
Farm4Me Agriculture Limited
Quintessential Investment Company
Rockstar Establishment Limited
SU Global Investment
Citi Trust Funding PLC
Farm Buddy
Eatrich 369 Farms & Food
Farm Sponsors Limited
Cititrust Credit Limited
Farmfunded Agroservices Limited
Chinmark Homes & Shelters Limited
Ovaioza Farm Produce Storage Limited
Requid Technologies Limited
Crowd One Investment
Farmkart Foods Limited
Holibiz Finance Limited
Ifeanyi Okpe Oil & Gas Services
Barrick Gold Mining Company
360 Agric Partners Limited
The EFCC reiterated its commitment to safeguarding the financial space by closely monitoring economic activities and taking legal action against fraudulent entities. It urged Nigerians to exercise caution before investing in any financial schemes and to verify the legitimacy of investment firms through appropriate regulatory bodies.
The Commission assured the public of its continued vigilance to protect citizens from financial fraud and stimulate growth in Nigeria’s economy.