The Economic and Financial Crimes Commission has detained 133 people in Abuja following a raid on a Ponzi scheme academy called Q University, better known as Q-Net.
The operation, conducted on Monday, March 24, 2025, occurred at the Compensation Layout in Gwagwalada, Federal Capital Territory.
According to a statement from the EFCC’s Head of Media and Publicity, Dele Oyewale, the commission acted on intelligence indicating that the academy was allegedly luring young Nigerians into a fraudulent scheme under the guise of 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.”
Oyewale explained that Q-Net operated through Q University, which misled individuals by promoting a programme called “Special Training for New Generation Billionaire.”
He stated that participants were manipulated into believing they would become billionaires after completing the programme.
Oyewale explained that enrolment required purchasing an Independent Representative Application Form, with participants motivated by slogans such as “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 revealed that the operation was conducted alongside the 176 Guards Battalion of the Nigerian Army. He noted that recovered items from the suspects included mobile phones, computers, and various electronic gadgets.
“They will be charged to court as soon as investigations are concluded,” he added.
