Operatives of the Economic and Financial Crimes Commission (EFCC) on Monday, March 24, 2025, dismantled a Ponzi scheme academy in Abuja, arresting 133 suspects.
The operation took place at Compensation Layout, Gwagwalada, following credible intelligence on the fraudulent activities of the academy, identified as Q University (also known as Q-Net).
According to the EFCC, the academy specialized in recruiting unsuspecting young Nigerians and training them to lure others into the scheme with promises of unrealistic profit returns.
The suspects were enrolled in a deceptive program called “Special Training for New Generation Billionaires,” where they were made to believe they could attain billionaire status. Entry into the scheme required purchasing an Independent Representative Application Form, with promotional slogans such as “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
The operation was conducted in collaboration with the 176 Guards Battalion of the Nigerian Army.
Items recovered from the suspects include mobile phones, computers, and other electronic gadgets.
The EFCC has assured that the suspects will be charged to court upon the conclusion of investigations.
