Operatives from Nigeria’s Economic and Financial Crimes Commission (EFCC) have raided and dismantled a Ponzi scheme operation in the Federal Capital Territory (FCT), arresting 133 suspects linked to the fraudulent network.
The suspects were apprehended on Monday, 24th March, at Compensation Layout, Gwagwalada, following intelligence reports on the illegal activities of an institution calling itself “Q University” (also known as Q-Net).
EFCC officials revealed that the academy specialised in recruiting and training young Nigerians to lure unsuspecting victims into the scheme with promises of unrealistic financial returns.
Investigations showed that enrollees were subjected to a so-called “Special Training for New Generation Billionaires”, where they were indoctrinated with motivational slogans such as:
“I’m a Champion”
“I’m Unstoppable”
“I’m Infinity”
Entry into the programme required payment for an “Independent Representative Application Form.”
The raid was carried out in collaboration with the 176 Guards Battalion of the Nigerian Army. Items seized included mobile phones, computers, and other electronic devices.
The EFCC has confirmed that investigations are ongoing, and suspects will be arraigned in court once the probe is concluded.
