EFCC arrests 32-man syndicate in Uyo over alleged ponzi, job scam
The Economic and Financial Crimes Commission (EFCC) has smashed a 32-man syndicate in Uyo, Akwa Ibom State, believed to be behind a sprawling ponzi and employment scam that defrauded scores of Nigerians of millions of naira.
The suspects, arrested on Tuesday, October 14, 2025, in coordinated raids across multiple locations, allegedly ran a fake investment and job network that promised lucrative oil and gas employment offers and high-yield returns before vanishing with victims’ funds.
According to a statement by the EFCC on Friday, preliminary findings revealed that the syndicate, operating under the guise of a fictitious oil company named Tropicana Oil and Gas Company, lured victims with offers of mouthwatering jobs and investment opportunities.
“Many job seekers and investors were reportedly coerced into paying large sums of money to join what later turned out to be a fraudulent marketing network.
“A key petitioner told investigators that the deception began when one of the suspects, identified as Sufiyan Mahmud, invited his brother to apply for a job at Tropicana Oil and Gas.
“Trusting the offer, the victim abandoned his fashion design business in Kogi State and travelled to Uyo on June 15, 2025.
“Upon arrival, he was received by another suspect, Abdulmajid, who posed as the younger brother of Tropicana’s managing director.
“The victim was then taken to a supposed interview venue where yet another suspect, Zamani Matthew, demanded an initial payment of ₦150,000 as part of a ₦900,000 “employment processing fee”, statement read.
It also noted that instead of receiving an employment form, the victim was handed a Q-Net registration form, a sign that the so-called job was merely a front for a pyramid-style investment scheme.
“When I asked about accommodation, they said I must pay first. I sent my wife to sell some of our belongings and paid ₦200,000. When I got to the lodge, I met many people looking malnourished, and I was told to bring two others to qualify for payment.
“I became suspicious when they started asking me to lure more victims in the name of Tropicana Oil and Gas,” the victim recounted in his petition.
The EFCC noted that the victim eventually escaped, sought legal assistance, and filed a formal complaint with the EFCC, prompting the agency’s investigation and eventual sting operation.
“Investigations have so far identified several victims who lost significant sums to the scam. Confirmed cases include Abubakar Umar Favour (₦1 million), Tanko Kasimu (₦800,000), Abubakar Abdurahman Jimba (₦900,000), Usman Faisu Adamu (₦900,000), Korna Emmanuel (₦950,000), Yakubu Musa (₦160,000), Happiness Mathew (₦100,000), and Daniel Dorathy, who reportedly lost ₦1.7 million”, EFCC said.
The Commission noted that more victims are expected to come forward as investigations continue.
During EFCC’s interrogation, the group’s coordinators claimed to be legitimate network marketers promoting Q-Net products, including nutritional supplements.
However, EFCC said that the group misrepresented these activities as investment opportunities, deceiving victims with promises of weekly dollar payouts and unrealistic returns.
Recovered products and materials are now undergoing regulatory analysis to determine their authenticity and compliance status.
The EFCC revealed that the syndicate operated from several locations across Uyo, including Ekom Iman Flyover, Transformer Junction along Abak Road, and Apostolic Lane, Nwaniba.
Items recovered from the suspects included 35 mobile phones, two Point-of-Sale (POS) machines, three public address systems, and several incriminating documents and digital evidence.
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The Commission urged Nigerians to be wary of investment or job offers that promise quick or guaranteed returns.
It advised prospective investors to verify the legitimacy of any firm and remain skeptical of unsolicited offers, especially those circulated via social media.
The EFCC said the suspects will be charged to court upon the conclusion of ongoing investigations.
