Operatives of the Economic and Financial Crimes Commission (EFCC) on Monday March 24,2025 busted a Ponzi Scheme Academy and arrested 133 suspects in Abuja.

They were arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory FCT Abuja, following actionable intelligence on the existence of the Academy.

The Academy named Q University (aka -Qnet) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with 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 training by obtaining a form the promoters called Independent Representative Application Form with promotional slogans such as ‘I’m a champion, I’m unstoppable’, I’m Infinity, among others.

The EFCC carried out the operation in collaboration with officers and men of 176 Guard Battalion, Nigerian Army.

Items recovered from the suspects include; phones, computers and other electronic gadgets.