Metro
EFCC Alerts Nigerians On 58 Illegal Ponzi Scheme Operators
Published
5 months agoon
By
Editor
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.
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.”
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
“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.
“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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Metro
JUST IN: Yinka Ayefele In Tears As Fire Guts Fresh FM
Published
5 hours agoon
August 15, 2025By
Editor
A fire outbreak has been reported at a popular Ibadan-based radio station, Fresh FM, at Felele area in Ibadan South-West local government area of the state capital on Friday.
The incident, which started a few hours ago, has disrupted other related activities at the station.
Newsmen could not confirm neither the cause nor extent of the damage as at the time of filing this report.
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Confirming the incident in a telephone chat, the General Manager, Oyo State Fire Services, Rev Akinyemi Akinyinka said, “our men are on the ground. The situation is under control.”
Founded by popular musician and broadcaster, Yinka Ayefele, Fresh FM is one of the most listened-to radio stations in Ibadan.
Click link below to watch video:
https://cdn.pmnewsnigeria.com/wp-content/uploads/2025/08/4YarRfs4-AQPEpS7eh4Sj40BSksJ46sTcwVZZAOsq-ibfVmfuQPhOk5ETRyO-ynZLu4qMgK2n6JR220C0oTevEDxrkfItsdBP66n3H7KR0u2_EYfLrs2ZsQ.mp4?_=1
Metro
Lagos Woman Remanded For False Foreign Currency Declaration
Published
1 day agoon
August 14, 2025By
Editor
A Federal High Court in Lagos on Wednesday remanded Ifunanya Phil-Olumba in the Kirikiri Correctional Centre over allegations of falsely declaring and failing to declare foreign currency totaling $14,567, £1,030, and CA$40 at the Murtala Muhammed International Airport.
The Economic and Financial Crimes Commission had preferred three counts against the defendant, accusing her of making false declarations to the Nigeria Customs Service and failing to declare foreign currency, contrary to Section 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022.
At the resumed proceedings, before Justice Dehinde Dipeolu, the prosecution, led by Okezie Chineye, called two witnesses.
The first prosecution witness, an officer of the Nigeria Customs Service, Mrs. Stella Ogar, told the court that the defendant was intercepted during inward clearance from the United Kingdom.
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According to Ogar, the defendant declared only CA$4,000, despite allegedly being in possession of CA$14,000, alongside other undeclared sums.
“We arrested her and handed her over to the Economic and Financial Crimes Commission for further investigation,” Ogar testified.
The second prosecution witness, an EFCC operative, Felicia Paul, confirmed that the defendant was handed over to the commission by the customs.
She stated that the defendant was interrogated and opted to make a written statement, which the prosecution sought to tender in evidence.
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However, defence counsel, Edwin Anikwem, objected to the admissibility of the statement, contending that it was not obtained voluntarily and was made without the presence of counsel, contrary to legal requirements.
However, Justice Dipeolu adjourned further hearing to August 19 for continuation of the trial.
The EFCC alleged that on July 22, 2025, at the Murtala Muhammed International Airport, Ikeja, the defendant falsely declared the sum of $4,000 while in possession of $14,567; failed to declare CA$40; and falsely declared £1,000 while in possession of £1,030.
According to the anti-graft agency, the offences committed contravened Section 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022.

A head-on collision between a truck and a commercial tricycle on the Yenagoa/Amassoma Road, Bayelsa State, has claimed the lives of two students from Niger Delta University, Amassoma.
The accident which occurred on Wednesday also left other passengers of the ill-fated tricycle critically injured.
Residents attributed the accident to absence of road signs and overspending by drivers as the crash occurred at a bend on the road.
The truck negotiated the bend at high speed, lost control and hit the tricycle at top speed, crushing it.
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A trader, Godspower Okilo told The PUNCH on Thursday that the truck driver was moving too fast, and by the time he realised the danger, it was already too late.
He said, “The Keke (tricycle) had no chance of escaping the danger because the tipper was already close to it.
“We’ve been complaining about reckless truck drivers on this road for years, but nothing changes.
“The dangerous impact left the tricycle damaged beyond recognition. Good Samaritans rushed to the scene, pulling survivors from the wreckage and transporting the injured to the Federal Medical Centre in Yenagoa.
“The bodies of the deceased were later evacuated to a nearby morgue.
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“This incident has renewed calls for stricter traffic enforcement, the Federal Road Safety Corps (FRSC) and the State Police Command should intensify patrols, introduce speed breakers, and conduct regular safety checks on heavy-duty vehicles.”
Another resident of the area, Mrs. Ebike Ekain, said if the appropriate authorities do not act now, more lives will be lost to accidents in the nearest future.
The Yenagoa/Amassoma Road is without doubt the most dangerous road in Bayelsa State due to the number of accidents that occur every year.
The reconstruction of the stretch from the Etegwe Roundabout to Tombia Community resulted in several turns which motorists do not consider as they often drive at dangerous speeds.
READ ALSO:Cultists Hack Two Graduates To Death In Bayelsa
The Federal Road Safety Commission usually dispatches an ambulance to the road which is stationed at Tombia Community and sometimes at the roundabout leading to Agudama-Ekpetiama Community.
Spokesman for the Bayelsa State Police Command, DSP Musa Muhammad, who confirmed the accident, said investigation is ongoing to unravel the cause of the accident.
“Yes, an accident happened there and we are investigating the causes of the accident,” he stated.
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