Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested 133 suspects in Abuja following a raid on a Ponzi scheme academy operating under the name Q University, also known as Q-Net.
The operation, carried out on Monday, March 24, 2025, took place at the Compensation Layout in Gwagwalada, Federal Capital Territory (FCT).
A statement by the EFCC’s Head of Media and Publicity, Dele Oyewale, revealed that the commission acted on intelligence reports about the academy, which allegedly recruits young Nigerians into a fraudulent scheme disguised as a wealth-building programme.
The statement partly read:
“Operatives of the Economic and Financial Crimes Commission, 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 (a.k.a Q-Net), is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.”
Explaining how Q-Net operates, Oyewale stated that Q University deceived individuals by offering a training program titled "Special Training for New Generation Billionaire." Participants were allegedly brainwashed into believing they would achieve billionaire status upon completion.
To enroll, individuals were required to purchase an Independent Representative Application Form and were encouraged with slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”
He said:
“The suspects are enrolled into a training codenamed: ‘Special Training for New Generation Billionaire’ and brainwashed to believe that they would graduate into the league of billionaires.
“They got 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.”
Oyewale added that the anti-graft agency executed the raid in collaboration with the 176 Guards Battalion of the Nigerian Army. Items recovered from the suspects included mobile phones, computers, and other electronic gadgets.
He confirmed that the suspects will be charged to court as soon as investigations are concluded.