The Economic and Financial Crimes Commission (EFCC), in a joint operation with the Nigerian Army, has dismantled a Ponzi scheme academy operating under the guise of “Q University” (also known as Q-Net), arresting 133 suspects in the Gwagwalada area of the Federal Capital Territory (FCT).
The raid, which took place on Monday, March 24, 2025, was executed following credible intelligence regarding the existence of the fraudulent academy at Compensation Layout.
“Q University” was found to be actively recruiting young, unsuspecting Nigerians, enticing them with promises of unrealistic financial returns.
The recruits were subjected to a training program dubbed “Special Training for New Generation Billionaire”, where they were brainwashed into believing they would achieve billionaire status.
“These individuals were lured with false promises of immense wealth,” an EFCC source revealed.
“They were required to obtain an ‘Independent Representative Application Form’ and were indoctrinated with motivational slogans like ‘I’m a Champion’, ‘I’m Unstoppable’, and ‘I’m Infinity’.”
The EFCC operation, conducted in collaboration with personnel from the 176 Guards Battalion of the Nigerian Army, resulted in the recovery of numerous items, including mobile phones, computers, and other electronic devices.
“We acted on actionable intelligence, and the operation was highly successful,” an EFCC spokesperson stated.
“We are determined to curb these fraudulent activities that prey on the vulnerable.”
The arrested suspects are currently in custody, and the EFCC has confirmed that they will be charged to court upon the completion of investigations.
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