EFCC Dismantles Ponzi Scheme Academy, Arrests 133 Suspects in Abuja



Operatives of the Economic and Financial Crimes Commission (EFCC) have dismantled a fraudulent Ponzi scheme academy in Abuja, arresting 133 suspects in the process. The operation took place on Monday, March 24, 2025, at the Compensation Layout in Gwagwalada, Federal Capital Territory (FCT), following credible intelligence on the illegal activities of the organization.

The academy, identified as Q University (also known as Q-Net), was allegedly involved in recruiting unsuspecting young Nigerians and training them to lure more individuals into the scheme with promises of unrealistic financial gains. Victims were enrolled in a program titled "Special Training for New Generation Billionaires," where they were reportedly indoctrinated with slogans such as "I’m a Champion," "I’m Unstoppable," and "I’m Infinity," to reinforce a false sense of financial empowerment.

To join the scheme, recruits were required to purchase an “Independent Representative Application Form”—a process that effectively initiated them into the pyramid scheme. The EFCC’s preliminary findings indicate that the operation was structured to exploit the hopes of young Nigerians by making them believe they could achieve overnight wealth through continued recruitment.

The raid was conducted in collaboration with officers and men of the 176 Guards Battalion of the Nigerian Army. During the operation, law enforcement agents recovered several items, including mobile phones, computers, and other electronic gadgets suspected to be linked to the fraudulent activities.

The EFCC has assured that thorough investigations are ongoing, and the suspects will be charged to court upon the conclusion of the inquiry. The Commission further reiterated its commitment to combating financial crimes and protecting Nigerians from deceptive investment schemes.


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