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Ponzi Alert: EFCC Exposes 58 Fake Investment Companies

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Economic and Financial Crimes Commission, EFCC,

With the rise of fraudulent investment schemes preying on unsuspecting Nigerians, the Economic and Financial Crimes Commission (EFCC) has issued a strong warning about the activities of 58 unregistered companies defrauding citizens under the guise of investment opportunities.

In a statement on Tuesday, the EFCC’s Head of Media and Publicity, Dele Oyewale, revealed that these companies operate without approval from the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), making their activities illegal.

The anti-graft agency disclosed that legal action has already been taken against several of these entities, with five convictions secured and another five suspects pleading guilty while awaiting further judicial proceedings.

READ ALSO: EFCC Grills Ex-Minister Uju Ohanenye Over ₦138m Fraud Allegations

Many more cases are still pending arraignment.

“To protect Nigerians from financial exploitation, the EFCC is drawing public attention to 58 companies masquerading as investment firms but deceiving innocent investors,” the statement read.

According to the EFCC, the following companies have been identified as fraudulent investment platforms: 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,

Others includes; 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,

Additionally, 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 were also listed.

The EFCC warned that these firms lure investors with promises of unrealistic returns, only to defraud them.

Nigerians were urged to verify investment opportunities with the CBN and SEC before committing funds.

The commission also encouraged victims of these schemes to come forward with complaints, assuring them that efforts were ongoing to recover lost funds where possible.

“The EFCC remains committed to creating a safe and corruption-free financial environment. We strongly advise the public to conduct due diligence before investing in any financial scheme,” the statement concluded.

Crime

Court Pushes Malami, Son’s Terrorism Financing Trial to April 15

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The Federal High Court in Abuja has adjourned the alleged terrorism financing and illegal firearms possession case involving former Attorney-General of the Federation, Abubakar Malami, and his son, Abdulaziz Malami, until April 15 and 16.

Justice Joyce Abdulmalik granted the adjournment on Tuesday after the prosecution requested more time to prepare for the trial.

During the court session, lead prosecuting counsel, Akinlolu Kehinde (SAN), informed the court that he had only recently been assigned to handle the case and needed additional time to consult with witnesses.

SEE ALSO: Malami Speaks Out On Court Ruling, Urges Nigerians To Stay Calm

“I got the instruction to take over the prosecution of the case on Monday and so I need time to interface with the witnesses,” Kehinde told the court while asking for a new hearing date.

Counsel for the defendants, Shuaibu Arua (SAN), did not oppose the request for adjournment.

Following the application, Justice Abdulmalik granted the request and fixed April 15 and 16 for the continuation of the trial.

The Department of State Services (DSS) had earlier arraigned the former justice minister and his son on a five-count charge bordering on alleged terrorism financing and unlawful possession of firearms.

According to the charge marked FHC/ABJ/CR/63/2026, Malami was accused of allegedly aiding terrorism financing by failing to prosecute suspected financiers whose case files were reportedly forwarded to him while he served as Attorney-General of the Federation and Minister of Justice.

The defendants were also accused of illegally storing firearms and ammunition at their residence located in Gesse Phase II Area of Birnin Kebbi Local Government Area of Kebbi State without lawful authority.

Items allegedly recovered include a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live cartridges, and 27 expended Redstar AAA 5’20 cartridges.

The alleged offences are said to violate provisions of the Terrorism (Prevention and Prohibition) Act, 2022, as well as the Firearms Act, 2004.

The trial is expected to continue in April when the court begins full hearing of the case.

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Crime

How Routine FRSC Patrol Exposed Wanted Driver, Recovered Stolen Sienna

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A routine patrol by the Federal Road Safety Corps (FRSC) has led to the recovery of a stolen vehicle in Lagos and the exposure of a wanted driver, highlighting the importance of proper vehicle documentation and cooperation with authorities.

The incident occurred at the RS2.1114 Isolo Unit Command, where officers stopped an ash-coloured Toyota Sienna bearing registration number LSD438GK for a Vehicle Licence Violation (VLV) on Saturday, February 28, 2026, at about 5:11 p.m.

While the driver initially failed to present valid documents, further checks revealed the vehicle had been reported stolen and the driver was already declared wanted.

SEE ALSO: Fatigue, Over Speeding Led To Road Accident Which Claimed 21 Kano Athletes – FRSC

The suspect was subsequently handed over in handcuffs to the Nigeria Police Force, Ajao Division, for further action.

The FRSC credited the recovery to the National Vehicle Identification Scheme (NVIS), a digital framework that strengthens vehicle verification and tracking.

The scheme has reportedly helped identify, trace, and recover numerous stolen vehicles nationwide, while curbing criminal syndicates involved in vehicle theft and identity manipulation.

In a statement, Assistant Corps Marshal Olusegun Ogungbemide stressed that enforcement is not only about traffic compliance but also crime prevention and public safety, urging motorists to always carry valid documentation and cooperate with patrol officers.

Corps Marshal Shehu Mohammed commended the Isolo team for their vigilance, affirming the FRSC’s commitment to leveraging technology, intelligence, and strategic partnerships to protect lives and property on Nigerian roads.

 

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Crime

Election Scandal in Abuja: Woman Busted With 20 Voter Cards in Kabusa

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A major election scandal unfolded on Saturday in the Federal Capital Territory (FCT) as security agents apprehended a young woman in the Kabusa area for allegedly possessing 20 voter cards during the ongoing area council elections.

The woman, dressed in a black shirt and red trousers with a white scarf, was intercepted at Polling Unit 001 in Kabusa Primary School.

She was immediately escorted into a police van by security personnel, raising concerns about the integrity of the election process.

SEE ALSO: Chaos At Nyanya Polling Unit As PDP, ADC Accuse APC of ₦1,000 Vote Buying

Meanwhile, the Minister of the FCT, Nyesom Wike, was on the ground monitoring the elections.

He visited several polling units, including the Karu Chief’s Palace, to interact with adhoc staff of the Independent National Electoral Commission (INEC) and assess voter turnout.

Wike reportedly inquired about the progress of the voting and the challenges faced by election officials.

This incident comes amid reports of low voter turnout and other electoral irregularities in parts of Abuja, underscoring ongoing concerns about electoral security and transparency in the FCT area council elections.

Authorities have assured that investigations are ongoing, and the suspect may face legal action pending further verification of her actions.

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