The Economic and Financial Crimes Commission (EFCC) has arrested 133 suspects in a raid on a Ponzi Scheme Academy located in the Gwagwalada area of Abuja. The academy, known as Q University or Q-Net, was reportedly involved in recruiting young Nigerians to participate in fraudulent schemes promising unrealistic profit returns.
According to EFCC spokesman Dele Oyewale, the suspects were enrolled in a program called “Special Training for New Generation Billionaires,” where they were allegedly brainwashed into believing they could join the ranks of the wealthy. The suspects had entered the program by submitting an “Independent Representative Application Form” adorned with slogans like “I’m a Champion” and “I’m Unstoppable.”
The raid was conducted in collaboration with the 176 Guards Battalion of the Nigerian Army, with various electronic devices, including phones and computers, seized during the operation. The suspects are expected to face charges once investigations conclude.
This crackdown highlights the ongoing efforts by the EFCC to combat financial crimes and protect citizens from fraudulent schemes that exploit vulnerable individuals.
