FCT, Abuja – Operatives of the Economic and Financial Crimes Commission (EFCC) arrested 133 suspects in connection to a Ponzi Scheme Academy in the Federal Capital Territory, (FCT), Abuja
The suspects were arrested at the Compensation Layout in the Gwagwalada area of the nation’s capital, Abuja, on Monday, March 24, 2025.
The anti-graft agency said the arrest was made following actionable intelligence on the existence of the Academy.
This was contained in a statement issued via the EFCC X handle @officialEFCC.
The EFCC said the Academy, named Q University (a.k.a Q-Net) recruits gullible young Nigerians for training in the scheme with the promise of getting unrealistic profit returns.
“The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.
“The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and brainwashed to believe that they would graduate into the league of billionaires. They got into the training by obtaining a form the promoters called the “Independent Representative Application Form” with promotional slogans such as: “I’m a Champion” “I’m Unstoppable” “I’m Infinity”, among others.”
The EFCC said the operation was carried out in collaboration with officers and men of the 176 Guards Battalion, Nigerian Army.
The officers of the anti-graft agency recovered items from the suspects including phones, computers, and other electronic gadgets.
The suspects will be charged to court as soon as investigations are concluded.
Nigerians react as EFCC busts ponzi scheme academy
@EbukaInnocent5
I laugh… immediately after secondary school, i left home to join an organisation of this nature called Superseed. Our breakfast is early morning motivation. You go trek from morning and turn to a beggar at night only to see money buy food. Hunger wan Kpai me for that place.
@JulianL97133315
Good day, I’m a victim of these people. I was deceived into paying some sort of money in the name of QNET last year August. I sent an email to the EFCC official email address but no response. I’m willing to work with you guys to help bring down these guys in calabar. Thanks 🙏
@esla_victor
This was exactly same Q-net that duped me 2m under the pretext of schooling in Malaysia in 2022.
E no go better for Patman and his brother and all the leaders of Qnet in Nigeria.
@Charity_Ogbudu
I can relate. I was lured into this same Qnet sometimes in 2022 all the way to Magboro in Ogun State, but I ran with my two legs back to my parents within few days. Omo, the scheme is a total . I would have been rotten by now if I didn’t run 😂😆😂😆
As u dy investigate this one, add neolife too that nonsense ponzi scheme has destroy alot of Nigerian youth
@_StudioCelia
Do something about Neo Life as well.
I’m tired of educating those boys to go learn a trade or get an actual job.
EFCC arrests 25 internet fraudsters in yahoo academy
Meanwhile, Legit.ng reported that EFCC operatives arrested 25 suspected internet fraudsters at a “yahoo academy” in Benin City, Edo State, based on credible intelligence.
Seized items include six exotic cars, laptops, and phones, allegedly used for fraudulent activities.
The EFCC plans to charge the suspects to court after concluding investigations, reinforcing its stance against cybercrime.
