Operatives from Nigeria’s Economic and Financial Crimes Commission (EFCC) uncovered a fraudulent academy in Abuja, arresting 133 suspects during a March 24, 2025 raid.
The operation targeted Q University, also known as Q-Net, in Gwagwalada’s compensation layout following credible intelligence about its illegal activities.
Authorities revealed the academy lured young Nigerians with false promises of financial empowerment and extraordinary wealth.
Recruits purchased “Special Training for New Generation Billionaire” forms, engaging in motivational chants like “I’m Unstoppable” to cement loyalty.
Furthermore, the EFCC disclosed the scheme brainwashed participants, convincing them to recruit others while awaiting billionaire status. Investigators noted the academy preyed on vulnerable individuals desperate for economic breakthroughs.
During the raid, EFCC agents partnered with the 176 Guards Battalion of the Nigerian Army, seizing phones, computers, and devices linked to the fraud. An EFCC spokesperson vowed to dismantle criminal networks exploiting Nigerians’ hopes, stressing, “No fraudulent enterprise will escape justice.”
Meanwhile, ongoing investigations aim to uncover the scheme’s masterminds and recover stolen funds. Suspects will face prosecution once inquiries conclude, the Commission confirmed.
The EFCC urged citizens to avoid “get-rich-quick” schemes and report suspicious offers promptly. “Verify opportunities through official channels,” the agency advised, highlighting rising fraud cases nationwide.
This crackdown follows similar operations targeting Ponzi schemes, reflecting EFCC’s intensified war on economic crimes. Public reactions praised the arrests but called for stricter penalties to deter fraudsters.
Victims’ testimonies revealed how Q University manipulated recruits with fake success stories and peer pressure. Many invested savings, only to face financial ruin when the scheme collapsed.
Financial experts applauded the bust, urging tighter regulations for unregistered “academies” promoting dubious wealth strategies. “Awareness campaigns are critical to combat financial illiteracy,” one analyst emphasized.
The Nigerian Army reaffirmed its commitment to supporting anti-corruption efforts, citing interagency collaboration as key to curbing crime. Community leaders in Gwagwalada pledged vigilance against such operations.
As court proceedings approach, victims’ groups demand restitution and psychological support for affected families. Legal experts anticipate charges ranging from fraud to money laundering for suspects.
The EFCC warned that unchecked greed and desperation fuel such schemes, urging citizens to prioritize ethical wealth-building. Schools and religious institutions were advised to educate members about financial scams.
This operation underscores Nigeria’s broader struggle against organized fraud, which drains billions annually from the economy. The EFCC reaffirmed its mandate to protect citizens and uphold financial integrity.
Survivors of the scheme shared harrowing tales of exploitation, urging authorities to accelerate justice. “They destroyed lives under the guise of empowerment,” one victim lamented during an interview.
Moving forward, the EFCC plans nationwide workshops to educate youths on identifying and avoiding fraudulent ventures. Partnerships with fintech firms will also tighten monitoring of suspicious transactions.
The Commission’s swift action has temporarily disrupted Ponzi activities, but analysts warn that new schemes will emerge without sustained enforcement. Public cooperation remains vital to eradicating financial crimes.
Ultimately, this bust highlights the EFCC’s resolve to safeguard Nigeria’s economic future while delivering justice to those betrayed by false promises of prosperity.
