Posted by Amarachi on Tue 25th Mar, 2025 - tori.ng
According to the anti-graft agency, the academy, identified as Q University also known as Q-Net is in the business of recruiting “gullible young Nigerians” who would be trained for the scheme.
A total of 133 suspects have been arrested after the Economic and Financial Crimes Commission (EFCC) uncovered a Ponzi Scheme Academy located in the Gwagwalada area of the nation’s capital on Monday, March 24.
According to the anti-graft agency, the academy, identified as Q University also known as Q-Net is in the business of recruiting “gullible young Nigerians” who would be trained for the scheme.
Those who have been trained are also expected to train and recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.
Dele Oyewale, the spokesman of the anti-graft agency, explained that the suspects are enrolled on a training codenamed: “Special Training for New Generation Billionaires”.
He said they are brainwashed to believe that they would graduate into the league of billionaires, adding that they were subsequently arrested acting upon credible intelligence.
“They got into the training by obtaining a form the promoters called ‘Independent Representative Application Form’ with promotional slogans such as: “I’m a Champion” “I’m Unstoppable”, “I’m Infinity”, among others”, he said.
The EFCC spokesman disclosed that the operation was carried out in conjunction with officers and men of the 176 Guards Battalion, Nigerian Army.
He listed items recovered from the suspects as phones, computers and other electronic gadgets, adding that they will be charged to court as soon as investigations are concluded.