The Economic and Financial Crimes Commission (EFCC) has arrested 133 suspects in Abuja following a raid on a Ponzi scheme academy known as Q University (Q-Net). The operation, which took place on Monday at Compensation Layout in Gwagwalada, was conducted in collaboration with the 176 Guards Battalion of the Nigerian Army.
According to a statement by EFCC’s Head of Media and Publicity, Dele Oyewale, the academy lured young Nigerians into a fraudulent “wealth-building” programme disguised as a training initiative.
The scheme, branded as “Special Training for New Generation Billionaires,” brainwashed participants into believing they would become billionaires after completing the programme. To join, recruits had to purchase an Independent Representative Application Form and were encouraged with slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
During the raid, mobile phones, computers, and other electronic gadgets were seized. Oyewale confirmed that the suspects will face prosecution once investigations are completed.
The EFCC has urged Nigerians to be wary of fraudulent investment schemes that promise unrealistic financial returns, warning that such scams are on the rise.
