Operatives of the Economic and Financial Crimes Commission (EFCC) raided a Ponzi scheme academy in Abuja on Monday, March 24, 2025, arresting 133 suspects. The operation took place at the Compensation Layout in Gwagwalada, following credible intelligence about the illegal academy.
According to a statement by EFCC spokesman Dele Oyewale, the institution, called Q University (also known as Q-Net), lured young Nigerians with promises of unrealistic profits. Trainees were coached to recruit others into the scheme under a program titled “Special Training for New Generation Billionaire.”
Participants, brainwashed into believing they would become billionaires, joined by filling an “Independent Representative Application Form” bearing slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
The EFCC conducted the raid with support from the 176 Guards Battalion of the Nigerian Army. Seized items included phones, computers, and other electronic devices.
Investigations are ongoing, and the suspects will be prosecuted upon completion.
