Operatives of the Economic and Financial Crimes Commission, EFCC, on Monday stormed a Ponzi Scheme Academy in Abuja and arrested at least 133 suspects.
The commission made this known in a statement via its official X handle on Monday.
The suspects where arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy.
“The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns,” the statement said.
“The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and brainwashed to believe that they would graduate into the league of billionaires. They got into the training by obtaining a form the promoters called “Independent Representative Application Form” with promotional slogans such as: “I’m a Champion” “I’m Unstoppable”, “I’m Infinity”, among others.”
The EFCC carried out the operation in collaboration with officers and men of 176 Guards Battalion, Nigerian Army.
Items recovered during the raid includes, phones, computers as well as other electronic gadgets.
“They will be charged to court as soon as investigations are concluded.”