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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

Navy Cracks Down on Crude Theft, Illegal Refining in Rivers, Delta

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Professional efforts of the Nigerian Navy (NN) has led to discovery of crude oil theft and illegal refining activities in Rivers and Delta States.

It was gathered that operatives of the NN discovered three suspected illegal refining sites, six reservoirs and about 99,000 litres of products suspected to be stolen crude oil and illegally refined Automotive Gas Oil (AGO) in both states.

These unfolded during separate operations by NN Ship (NNS) SOROH and NNS DELTA on August 31, 2026, relying on credible intelligence on suspected illegal petroleum activities in the area.

According to a statement issued by the Director of Naval Information, Captain Abiodun Folorunsho, the operations also led to the discovery of illegal refining infrastructure, including a large refining oven, storage facilities and dugout reservoirs containing suspected stolen crude oil.

READ ALSO: NMDPRA Shares July Domestic Cooking Gas Supply Details

He said the operations represented a significant disruption to the activities of oil thieves and illegal refiners, particularly by targeting the infrastructure used to store and process stolen petroleum products.

Folorunsho added that the identified sites, facilities and recovered products were handled in accordance with established procedures.

The latest operations, the Navy said, underscored its continued efforts to sustain pressure on criminal networks operating in the oil-producing region and deny them access to infrastructure required to carry out crude oil theft and illegal refining.

The Navy also reiterated its commitment to supporting efforts to protect Nigeria’s oil and gas resources and curb activities capable of undermining the country’s economy and environment.

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Crime

Drama in Court as Ex-Benue Councillor Faces Assault, Attempted Homicide Charges

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Benue Dangles Vast Mineral Resources Before Investors

Drama unfolded at the Upper Area Court 2 in Otukpo, Benue State, as a former councillor, Daniel Ujah, was remanded at the Otukpo Correctional Centre over alleged assault and attempted culpable homicide.

Ujah, 43, who represented Awume-Icho Ward in Ohimini Local Government Area, was arraigned by the Nigeria Police on charges including criminal trespass, intimidation, criminal force and assault, causing grievous hurt, and attempted culpable homicide.

SEE ALSO: 16 Feared Dead as Armed Herdsmen Unleash Fresh Terror in Benue

The charges followed a petition filed by Rebecca Adole at the Area Commander’s Office in Otukpo, according to the First Information Report marked CR33/2026.

The police alleged that on August 28, 2026, Ujah trespassed into the compound of Adole’s mother, Amina Iduh, at Akwutulo, Awume, where he allegedly assaulted her.

According to the FIR, Iduh had returned from the farm when she was allegedly attacked, beaten and pushed into a fire, leaving her with injuries to her buttocks. Her clothes were also reportedly burnt during the incident.

The police said the woman was subsequently taken to a hospital in Onyagede, Ohimini Local Government Area, where she is receiving treatment.

Ujah was also accused of threatening to kill the woman and allegedly claiming that nobody would be able to stop him.

When the case came up for mention on Wednesday, Ujah pleaded not guilty to the charges.

His counsel, Rev. O. Simon, who held brief for P.O. Ella, applied for bail, but the prosecuting counsel, Inspector Nancy Alechenu, opposed the application.

Presiding magistrate, Hasia Garuba, subsequently ordered that Ujah be remanded at the Otukpo Correctional Centre pending further proceedings.

The court adjourned the case until September 22, 2026, for further mention.

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Crime

How Two Lagos Men Allegedly Obtained N115m Under False Pretences

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The Lagos State Police Command has declared two men, Tomiloye Sunday and Oloyede Olowoyo, wanted over an alleged N115 million fraud.

The suspects were declared wanted by the State Criminal Investigation Department, Panti, Yaba, Lagos, following allegations that they conspired with others still at large to obtain N115 million from a complainant under false pretences.

SEE MORE: Lagos Police Nab Man For Allegedly Stabbing Wife To Death

Separate wanted notices issued by the Nigeria Police Force on Tuesday detailed the allegations against the two men.

According to the police, Sunday is wanted over alleged conspiracy, fraud, forgery, impersonation and obtaining money under false pretences.

The command alleged that Sunday conspired with other suspects, who are still at large, to fraudulently obtain N115 million from the complainant.

The police notice partly read, “The above-named person is hereby declared WANTED by the Nigeria Police Force in connection with conspiracy, fraud, forgery, impersonation and obtaining money under false pretences.

“The suspect is alleged to have conspired with others at large to fraudulently obtain the sum of N115,000,000 (One Hundred and Fifteen Million Naira) under the pretence of the complainant.”

Olowoyo was also declared wanted over allegations of conspiracy, obtaining money by false pretences and conduct likely to cause a breach of the peace.

The police alleged that he similarly conspired with others at large to fraudulently obtain N115 million from the complainant.

The notice stated, “The above-named person is hereby declared WANTED by the Nigeria Police Force in connection with allegations of conspiracy, obtaining money by false pretences and conduct likely to cause a breach of the peace.

“The suspect is alleged to have conspired with others at large to fraudulently obtain the sum of N115,000,000 (One Hundred and Fifteen Million Naira) under the pretence of the complainant.”

The police identified Sunday’s last known address as Ikorodu, Lagos, and described him as a short, medium-built Yoruba man with a round face, upturned nose, small mouth, thin lips and dark complexion. He was also said to be bald.

Olowoyo’s last known address was given as No. 1, Commercial Avenue, Highway Barracks, Sabo, Lagos.

He was described as a heavy-built Yoruba man with a round face, long pointed nose, medium mouth, thick lips, prominent eyes and light complexion.

The command urged anyone with information about the whereabouts of either suspect to report to the nearest police station or the SCID, Musiliu Smith Street, Panti, Yaba, Lagos.

Members of the public can also contact the police on 07073457317.
The allegations against the two men have not been established in court.

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