The Economic and Financial Crimes Commission (EFCC) has arrested 133 individuals linked to an alleged Ponzi scheme operating under the name Q University (Q-Net) in Gwagwalada, Abuja.

According to the EFCC, the academy was actively recruiting young Nigerians and indoctrinating them into fraudulent financial schemes. Recruits were enrolled in a so-called “Special Training for New Generation Billionaires” and were then required to bring in new members with promises of unrealistic returns on investment.

EFCC spokesperson Dele Oyewale revealed that the suspects were lured into the scheme by purchasing an “Independent Representative Application Form” containing promotional slogans such as “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.”

The operation was conducted in collaboration with the 176 Guards Battalion of the Nigerian Army. Items recovered from the suspects include mobile phones, computers, and other electronic devices.

The EFCC has assured the public that those arrested will be prosecuted once investigations are concluded.