Operatives of the Economic and Financial Crimes Commission on Monday raided a Ponzi scheme academy and arrested 133 suspects in the Federal Capital Territory, Abuja.
The spokesperson of the EFCC, Dele Oyewale, confirmed the operation to newsmen in a statement he issued to them on Monday.
Oyewale said the suspects were apprehended at the Compensation Layout in Gwagwalada, Abuja after receiving actionable intelligence about the academy’s activities.
He said: “The academy, named Q University (also known as Q-Net), lured young Nigerians by promising them unrealistic profits.
“The recruits were trained to further recruit others, using the slogan ‘Special Training for New Generation Billionaire’.
“The suspects joined the scheme by filling out an ‘Independent Representative Application Form,’ with promotional slogans like: ‘I’m a Champion,’ ‘I’m Unstoppable,’ and I’m Infinity.’”
The EFCC in collaboration with officers from the 176 Guards Battalion of the Nigerian Army executed the operation.
Oyewale said items seized from the suspects included phones, computers, and other electronic gadgets.
“The suspects will be charged in court once investigations are completed,” he added.
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