Recently, the Economic and Financial Crimes Commission (EFCC) released a list of 58 businesses that scam unwary Nigerians through illicit investment schemes, also referred to as Ponzi schemes. Among these organizations, Crowdyvest, Farmforte Limited, and Agro Partnership Tech are noteworthy. The EFCC’s dedication to cleaning up Nigeria’s financial system and shielding its citizens from dishonest investment platforms is demonstrated by this action.
The EFCC noted in a statement issued on March 11, 2025, that these businesses are operating illegally because they are not registered with the Securities and Exchange Commission (SEC) or the Central Bank of Nigeria (CBN). In independent letters, both regulatory agencies affirmed that these organizations do not have the required authorization to operate as investment firms.
The EFCC has filed lawsuits against a number of these businesses. Five of the cases are still undergoing arraignment, five have already been found guilty, and five more have entered guilty pleas and are awaiting a review of the facts. The 58 blacklisted companies’ complete list consists of:
Wales Kingdom Capital, Bethseida Group of Companies, AQM Capital Limited, Titan Multibusiness Investment Limited, Brickwall Global Investment Limited, Green Eagles Agricbusiness Solution Limited, Richfield Multiconcepts Limited, Forte Asset Management Limited, (Biss Networks Nigeria Limited, S Mobile Netzone Limited, Pristine Mobile Network), Letsfarm Integrated Services, Bara Finance & Investment Limited, Vicampro Farms Limited, Brooks Network Limited, Gas Station Supply Services Limited, Brass & Books Limited, and Annexation Biz Concept & Maitanbuwal Global Venturescrowdyvest Limited.
It also comprises of Jadek Agro Connect Limited, Adeeva Capital Limited, Oxford International Group and Oxford Gold Integrated, Skapomah Global Limited, MBA Trading & Capital Investment Limited, TRJ Company Limited, Farm4Me Agriculture Limited, Quintessential Investment Company, Adeprinz Global Enterprises, Rockstar Establishment Limited, SU. Global Investment, Citi Trust Funding PLC, Farm Buddy, Eatrich 369 Farms & Food, Globertrot Farmsponsors Nigeria Limited, Farm Sponsors Limited, Cititrust Credit Limited, Farmfunded Agroservices Limited, Adamakin Investment & Works Limited, Cititrust Holding PLC, Green Eagles Agribusiness Solutions Limited, Chinmark Homes & Shelters Limited, Emerald Farms & Consultant Limited, Ovaioza Farm Produce Storage Limited, Farm 360 & Agriculture Company, Requid Technologies Limited, West Agro Agriculture & Food Processing Limited, NISL Ventures Limited & Estate of Laolu Martins, XY Connect Investment Limited, River Branch Unique Investment Limited, Hallmark Capital Limited, CJC Markets Limited, Crowd One Investment, Farmkart Foods Limited, KD Likemind Stakeholders Limited, Holibiz Finance Limited, Ifeanyi Okpe Oil & Gas Services, Servapps Nigeria Limited, Barrick Gold Mining Company and 360 Agric Partners Limited.
People looking for rapid profits are usually drawn to Ponzi schemes because they usually promise large returns with little to no risk. These schemes are unsustainable in the long run, though, because they depend on money from new investors to pay returns to previous investors. Participants suffer large financial losses when the scheme fails due to a decline in fresh investments.
Given their importance in the agricultural industry, Crowdyvest and Farmforte Limited & Agro Partnership Tech’s presence on the EFCC’s list is very troubling. These businesses are seen as cutting-edge conduits that link investors with agricultural ventures that offer high rates of return. Due diligence is crucial before making any investments, as evidenced by their suspected involvement in fraudulent operations.
The EFCC has reaffirmed its dedication to protecting the people from these predatory businesses. To stop Nigerians from being exploited further, the panel promises aggressive monitoring and constant observation of the economy.
