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    Home»News»EFCC Busts Abuja Ponzi Scheme Academy, Arrests 133 Suspects
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    EFCC Busts Abuja Ponzi Scheme Academy, Arrests 133 Suspects

    HumsiBy HumsiMarch 24, 2025No Comments2 Mins Read
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    By Miriam Humbe

    Operatives of the Economic and Financial Crimes Commission, EFCC, on Monday, March 24, 2025 busted a Ponzi Scheme Academy and arrested 133 suspects in Abuja.

    EFCC’s Spokesperson, Dele Oyewale disclosed this in a statement signed on Monday.

    The suspects were arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy.

    The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.

    The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and brain washed to believe that they would graduate into the league of billionaires.

    They got into the training by obtaining a form the promoters called “Independent Representative Application Form” with promotional slogans such as: “I’m a Champion” “I’m Unstoppable”, “I’m Infinity”, among others.

    The EFCC carried out the operation in collaboration with officers and men of 176 Guards Battalion, Nigerian Army.

    Items recovered from the suspects included phones, computers and other electronic gadgets.

    They will be charged to court as soon as investigations are concluded.

    EFCC Gullible New Generation Billionaires Ponzi Scheme Q-Net
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    • EFCC Chairman Olukoyede Thanks Tinubu, Wike For Access Road At New Academy
    • Alleged N30bn Fraud: EFCC Presents Video Evidence Against Oyo-Ita’s Claim In Trial-within-Trial
    • Alleged N76bn, $31.5m Fraud: Court Adjourns Ex-AMCON MD, Kuru, Others’ Trial Till July 1
    • Nigeria Police, CLEEN Foundation Trains PPROs
    • NYSC DG, Brigadier General Nafiu Seeks Support For Scheme In Rivers State
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