The Economic and Financial Crimes Commission (EFCC) arrested 133 defendants amid a raid on a Ponzi scheme academy in Abuja on Monday.
The operation was confirmed by EFCC spokesperson Dele Oyewale in a statement on Monday.
Following the receipt of actionable intelligence regarding the academy’s operations, Oyewale said the suspects were captured at the Compensation Layout in Gwagwalada, Abuja.
Young Nigerians were enticed to the academy, Q University (also called Q-Net), by making exaggerated claims of profits.
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The phrase “Special Training for New Generation Billionaire” was used to train the recruits to further recruit others.
Using promotional slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity,” the suspects joined the program by completing a “Independent Representative Application Form.”
The operation was carried out by the Nigerian Army’s 176 Guards Battalion officers working with the EFCC.
The suspects were found in possession of computers, phones, and other electronic devices, he added.
Upon completion of the investigations, the suspects will face charges in court. (NA)
