The Economic and Financial Crimes Commission (EFCC) has issued a public alert on the operations of 58 companies allegedly defrauding Nigerians under the guise of investment opportunities.
In a statement released yesterday, EFCC warned that these entities are not registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), the two primary regulators of financial and investment activities in the country.
Both regulators, in separate correspondences with the EFCC, confirmed that the listed companies have no legal authorization to operate as investment firms.
According to the anti-graft agency, several of these firms have been charged to court, with five already convicted, while another five have pleaded guilty and are awaiting a review of facts.
The remaining cases are at different stages of prosecution.
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The EFCC provided a comprehensive list of the illegal operators, which includes Wales Kingdom Capital, Bethsaida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, Farmforte Limited & Agro Partnership Tech, Green Eagles Agribusiness Solution Limited, and Richfield Multiconcepts Limited, among others.
Other notable names on the list include Crowdyvest Limited, MBA Trading & Capital Investment Limited, Oxford International Group, Chinmark Homes & Shelters Limited, Adamakin Investment & Works Limited, Farm4Me Agriculture Limited, TRJ Company Limited, and Barrick Gold Mining Company.
The EFCC reassured Nigerians of its ongoing efforts to monitor and crack down on fraudulent investment schemes, emphasising its commitment to protecting citizens from financial exploitation.
The commission urged the public to remain vigilant and verify investment opportunities before committing their funds.
