EFCC Warns Of 58 Illegal Ponzi Scheme Operators.

In line with its commitment to sanitising the financial space of the nation and offer the investing public adequate and reliable information on the activities of illegal ponzi scheme operators across the country, the Economic and Financial Crimes Commission, EFCC, hereby alerts Nigerians on the operations of 58 companies posturing as investing entities and defrauding innocent Nigerians of their hard-earned money.

A statement by the head of media and publicity of the commission says the companies are neither registered with the Central Bank of Nigeria nor the Security Exchange Commission.

The two regulators, in separate correspondences with the EFCC, denied that the companies are registered with them.

The Commission has arraigned many of the companies to court, with five of them convicted, another five pleaded guilty but awaiting review of facts while the rest are pending arraignment.

The Commission assures the public of its vigilance and proactive monitoring of every entity and player in the nation’s economic space to safeguard the public from opportunistic and predatory operators.