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.
They 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 brainwashed 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 include phones, computers and other electronic gadgets.
They will be charged to court as soon as investigations are concluded.
Rabiu Omaku Nasarawa State Government has signed a Memorandum of Understanding, MOU with JINLIDE MINING…
Rabiu Omaku Tragedy struck the people of Gada Biyu community, a Tiv settlement, when a…
........Baruwa says he remains the Authentic National President by subsisting Court Judgments Yakubu Busari National…
Hanny Henry The Adamawa State Government has relaxed the curfew imposed on Lamurde Local Government…
Hanny Henry Governor Ahmadu Umaru Fintiri of Adamawa State has been selected as the only…
Africa Prudential Plc, a leading provider of share registration services and capital market solutions, successfully…
This website uses cookies.