The Economic and Financial Crimes Commission (EFCC) has issued a public alert regarding 58 companies operating illegally as investment entities and defrauding Nigerians of their hard-earned money.
Among the 58 companies listed by the EFCC are Wales Kingdom Capital, Bethseida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, Farmforte Limited & Agro Partnership Tech, Green Eagles Agricbusiness Solution Limited, and Richfield Multiconcepts Limited. Others include Oxford International Group and Oxford Gold Integrated, Skapomah Global Limited, MBA Trading & Capital Investment Limited, TRJ Company Limited, Farm4Me Agriculture Limited, and Quintessential Investment Company.
Additional companies named in the alert are Adeeva Capital Limited, Jadek Agro Connect Limited, Crowdyvest Limited, Farm Sponsors Limited, Cititrust Credit Limited, Farmfunded Agroservices Limited, Adamakin Investment & Works Limited, Green Eagles Agribusiness Solutions Limited, Chinmark Homes & Shelters Limited, and Ovaioza Farm Produce Storage Limited. The list also includes Requid Technologies Limited, West Agro Agriculture & Food Processing Limited, River Branch Unique Investment Limited, Hallmark Capital Limited, CJC Markets Limited, and 360 Agric Partners Limited, among others.
According to the EFCC, none of these companies are registered with the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).
The two regulatory bodies confirmed in separate correspondences with the EFCC that the listed companies are not licensed to operate as financial entities.
“The companies are neither registered with the Central Bank of Nigeria, CBN, nor the Security Exchange Commission, SEC,” the EFCC stated, citing the regulators’ responses.
The commission, in a statement, emphasized its commitment to sanitizing the nation’s financial space and providing reliable information to protect investors from fraudulent schemes.
The commission has taken legal action against many of these operators, with five of the companies being convicted, while another five have pleaded guilty and are awaiting a review of facts.
According to the anti graft agency, the remaining cases are pending arraignment in court.
The EFCC assures the public of its vigilance, stating, “The EFCC 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 and use the instrumentality of its anti-corruption mandate to stimulate growth in the economy.”
The EFCC urged Nigerians to exercise caution and verify the legitimacy of investment entities before parting with their money, emphasizing its ongoing efforts to combat financial crimes and protect the public.
