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EFCC Alerts Nigerians On 58 Illegal Ponzi Scheme Operators

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The Economic and Financial Crimes Commission has raised the alarm over the activities of 58 illegal Ponzi scheme operators defrauding Nigerians under the guise of investment opportunities.

In a statement released on Tuesday by the EFCC’s Head of Media and Publicity, Dele Oyewale, the anti-graft agency disclosed that the companies are neither registered with the Central Bank of Nigeria nor the Securities and Exchange Commission, making their operations illegal.

Oyewale noted that the commission has taken legal action against many of the entities, leading to the conviction of five, while another five have pleaded guilty and are awaiting further judicial processes.

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He added that other cases are still pending arraignment.

READ ALSO: EFCC Arrests Four Chinese, 27 Other Suspected Illegal Miners In Jos

The statement read in part, “In line with its commitment to sanitising the financial space of the nation and providing the investing public with adequate and reliable information, the EFCC hereby alerts Nigerians to the operations of 58 companies posturing as investing entities but defrauding innocent citizens of their hard-earned money.”

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According to Oyewale, some of the flagged companies include Wales Kingdom Capital, Bethseida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, Farmforte Limited & Agro Partnership Tech and Green Eagles Agricbusiness Solution Limited among others.

The statement added, “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, (Annexation Biz Concept & Maitanbuwal Global Venturescrowdyvest Limited,) and Crowdyvest Limited,

READ ALSO: EFCC Interrogates Former Minister Uju Ohanenye On Alleged N138M Fraud

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“Others are: Jadek Agro Connect Limited, Adeeva Capital Limited, Oxford International Group and 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.

“The rest include: Cititrust Holding PLC, Green Eagles Agribusiness Solutions Limited, Chinmark Homes & Shelters Limited, Emerald Farms & Consultant Limited, Ovaioza Farm Produce Storage Limited, 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, Barrick Gold Mining Company and 360 Agric Partners Limited.”

Oyewale assured the public that the EFCC remained vigilant in monitoring and prosecuting fraudulent investment schemes, warning Nigerians to exercise caution before committing funds to any financial entity not duly registered with regulatory bodies.

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“We urge the public to verify any investment opportunity with the CBN and SEC before engaging. The EFCC remains committed to safeguarding the public from predatory operators and ensuring a corruption-free economic environment,” the statement added.

He urged victims of fraudulent schemes to come forward with complaints and assured them that efforts were ongoing to recover funds where possible.

 

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Suspected Kidnappers Abduct 18 Passengers On Benin-Akure Road

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Kidnappers have abducted 18 passengers along the Benin-Akure highway, near Obarenren village, Ovia North East Local Government Area of Edo State.

The kidnappers were said to have fired sporadically before taking their victims into the bush.

Edo State Police Command’s Public Relations Officer, Eno Ikoedem, confirmed the incident in Benin on Monday.

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READ ALSO:Senate Backs Death Penalty For Kidnappers, Informants, Others

Ikoedem, while stating that a joint security operation had launched a manhunt for the abductors, added that a “massive bush combing led to the rescue of 11 victims.”

The PPRO, who said efforts were on to rescue other victims, noted: “The incident happened last Saturday. The passengers were in a 18-seater Big Joe bus. We have been combing the bush in collaboration with the Nigerian Army.

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“No Arrest has been made yet.”

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NDLEA Seizes 457kg of Cannabis, Arrests Suspected Trafficker In Edo

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Photo: file copy

Operatives the National Drug Law Enforcement Agency (NDLEA), Edo State Command, have arrested a 44-year-old suspected drug trafficker, Ohiomah Igbafe, at Uroe community in Owan East Local Government Area of Edo State.

The command also seized 457 kilograms of skunk cannabis concealed at the suspect’s hideout
in the operation that took place on December 9, 2025,

The State Commander of the anti-narcotic agency, Mitchell Ofoyeju, who disclosed this in a press statement said: “The suspect was found in possession of 15 bags of cannabis sativa weighing a total of 457 kilograms, in addition to a separate sack containing four kilograms of cannabis seeds.”

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He described the arrest as a significant milestone in the agency’s ongoing campaign against drug trafficking in the state.

READ ALSO:NDLEA Arrests Suspected Drug Baron, Seizes Over 14,000kg Skunk In Osun

He said: “The operation reflects our undying commitment to the eradication of drug trafficking within Edo State. The quantity of illegal drugs seized in this raid represents a serious threat to public health and safety. This level of success encourages us to continue to confront drug cartels relentlessly.”

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He added that the agency would not relent in its efforts to dismantle criminal drug networks, warning that offenders would be pursued without mercy.

“We want to send a clear message that drug traffickers and their collaborators have no safe harbour in Edo State.”

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Edo Assembly Declares Okpebholo’s Projects Unprecedented

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The Edo State House of Assembly has described projects embarked upon by Governor Monday Okpebholo as unprecedented in the history of Edo State.

Deputy Speaker of the House, Hon. Atu Osamwonyi, made the assertion when he led members of the legislature on a comprehensive oversight inspection of several ongoing infrastructural projects.

Other lawmakers on the oversight team included Hon. Addeh Isibor, Hon. Yekini Idaiye, and Hon. Ugabi Kingsley.

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Hon. Osamwonyi, who spoke during an assessment tour of the Sapele Road Flyover, said the lawmakers were in the field to verify the progress of work and ensure that funds appropriated by the Assembly were being judiciously utilised.

According to him, the flyover represents a milestone for Benin City and reflects the governor’s commitment to infrastructural renewal.

READ ALSO:MOWAA: Why I Will Not Appear Before Edo Assembly Panel — Obaseki

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He emphasised that unlike past administrations where funds were approved with no tangible results, the Okpebholo-led government had demonstrated transparency and visible delivery.

“In my entire life in Edo State, this flyover project is the first of its kind. We are here physically, and work is ongoing,” he said.

The Deputy Speaker added that the Assembly had earlier inspected the Ramat Park Flyover on Monday, noting similar levels of progress.

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This is the fifth site we have visited since yesterday. We are impressed with what we have seen so far, and as a House, we will stand by the governor to ensure he finishes strong,” he said.

At Ogheghe, Old Sapele Road and Ekae Road—where a 14-kilometre road and concrete drainage network is underway—Hon. Osamwonyi described the construction efforts as unprecedented, expressing astonishment at the level of work done within a short period.

READ ALSO:Okpebholo’s One Year Performance Outshines Some governors’ 8 Yrs, Says Idahosa

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He insisted that the legislature does not play politics with accountability and would speak the truth at all times.

If Governor Okpebholo was not doing well, we would say it. But I stand here today to affirm that the funds appropriated are being used judiciously for the benefit of the people.l”, he noted.

He further remarked that despite limited financial resources, the governor had delivered projects many believed were impossible.

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The Deputy Speaker recalled that several communities, particularly in Ogheghe, previously suffered from severe road degradation that made access impossible, even for motorcycles.

But today we are standing here with joy. The governor has brought democracy to Edo in a way the people can feel,” he said.

READ ALSO:Edo Assembly Declines To Confirm Ex-lawmaker As commissioner Over DSS Petition

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According to him, contractors handling the projects confirmed that although the initial timeline was two years, work would likely be completed within one year and six months due to the speed of implementation.

“That tells you that Governor Okpebholo is not eating Edo people’s money,” he added.

Hon. Osamwonyi stressed that the Assembly would resist any attempt to derail the governor’s momentum.

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This is the continuity we want in Edo State. Anybody who wants to thwart the governor’s efforts, we will not agree,” he said.

The oversight team also visited the 5.86-kilometre road project linking Amagba and Obagie-N’Ebvuosa, where the engineer handling the project reported that 4.3 kilometres of drainage had already been completed.

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The inspection revealed rapid progress across multiple sites.

Commissioner for Works, Engr. Felix Akhabue, who accompanied the legislators, said the governor had given strict directives to monitor all contractors and ensure adherence to specifications.

He confirmed that the Ministry of Works had been following the Adesuwa Junction Flyover construction “bumper to bumper.”

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He noted that the House of Assembly’s involvement strengthens accountability.

READ ALSO:Okpebholo, Idahosa Bag UNIBEN Distinguished Service, Leadership Awards

The lawmakers did not just appropriate funds; they want to see how the money is being used.

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“Their presence keeps us on our toes because Edo people are waiting for the completion of these projects,” he said.

Akhabue added that although the flyover was originally scheduled for completion in 24 months, the current pace suggests that delivery would be earlier than projected.

He commended the contractors for adherence to standards and thanked the Assembly for its active oversight role.

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