EFCC Cracks Down On Ponzi Scheme Academy, Arrests 133 Suspects In Abuja.
The Economic and Financial Crimes Commission (EFCC) has dismantled a Ponzi scheme operation in Abuja, arresting 133 suspects linked to the fraudulent enterprise.
The operation took place on Monday, March 24, 2025, at the Compensation Layout in Gwagwalada, Federal Capital Territory, following credible intelligence on the activities of the scheme.
The fraudulent academy, known as Q University (also called Q-Net), specialised in recruiting unsuspecting young Nigerians, training them to lure more individuals into the scheme with promises of unrealistic profit returns.
According to the EFCC, recruits underwent a training programme titled “Special Training for New Generation Billionaire”, where they were indoctrinated with slogans such as “I’m a Champion”, “I’m Unstoppable”, and “I’m Infinity”. Participants joined by purchasing an Independent Representative Application Form, falsely believing they would graduate into a league of billionaires.
The crackdown was executed in collaboration with personnel from the 176 Guards Battalion of the Nigerian Army. Items recovered from the suspects included mobile phones, computers, and other electronic gadgets.
EFCC spokesperson Dele Oyewale confirmed that the suspects would be charged to court upon the conclusion of investigations.
