by Ola Williams-
The Economic and Financial Crimes Commission (EFCC) has dismantled a Ponzi scheme academy in Abuja, arresting 133 suspects on Monday, March 24, 2025.
Dele Oyewale, Head of Media & Publicity at the EFCC, confirmed the operation in a statement, revealing that the suspects were apprehended at the Compensation Layout in Gwagwalada, Federal Capital Territory (FCT), following credible intelligence.
The academy, identified as Q University (also known as Q-Net), allegedly recruited young Nigerians under false pretenses. “The scheme lured individuals with the promise of extraordinary financial gains,” Oyewale stated. “They were indoctrinated through a program called ‘Special Training for New Generation Billionaire,’ misleading them into believing they would become billionaires.”
To enroll, recruits purchased an “Independent Representative Application Form” and were encouraged with slogans such as “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
The EFCC’s operation was conducted in collaboration with the 176 Guards Battalion of the Nigerian Army. Officers recovered mobile phones, computers, and other electronic devices from the suspects.
“The Commission remains committed to protecting Nigerians from fraudulent schemes,” Oyewale added. “Once investigations are complete, the suspects will be charged to court.”
