The Economic and Financial Crimes Commission (EFCC) has successfully dismantled a 32-person criminal syndicate operating in Uyo, Akwa Ibom State, involved in an extensive Ponzi scheme and fraudulent employment racket that defrauded numerous Nigerians of millions of naira.
On Tuesday, October 14, 2025, a series of coordinated raids across multiple sites led to the apprehension of the suspects, who allegedly masterminded a deceptive investment and job placement operation. They enticed victims with promises of high-paying roles in the oil and gas industry and attractive investment returns, only to vanish with the money.
According to an EFCC press release issued on Friday, preliminary inquiries revealed that the group masqueraded as Tropicana Oil and Gas Company, luring job seekers and investors with enticing employment offers and investment opportunities.
“Many individuals were convinced to pay hefty fees to join what was ultimately revealed as a fraudulent marketing network,” the statement noted.
One victim recounted that the scam began when a suspect named Sufiyan Mahmud persuaded his brother to apply for a position at the fictitious company. Trusting the opportunity, the victim abandoned his fashion design business in Kogi State and traveled to Uyo on June 15, 2025.
Upon arrival, he was met by another suspect, Abdulmajid, who falsely claimed to be the younger brother of Tropicana’s managing director. The victim was then taken to a supposed interview venue where a third suspect, Zamani Matthew, demanded an upfront payment of ₦150,000 as part of a ₦900,000 “employment processing fee,” EFCC officials detailed.
Instead of receiving a genuine job application, the victim was handed a Q-Net registration form, revealing that the employment offer was a front for a pyramid-style investment scam.
“When I asked about accommodation, they insisted on payment first. My wife had to sell some personal items to raise ₦200,000. Upon arriving at the lodge, I saw many undernourished people and was told I needed to recruit two more individuals to qualify for payment,” the victim shared.
“My doubts grew when they pressured me to bring in others under the Tropicana Oil and Gas banner,” he added.
The EFCC reported that the victim eventually escaped, sought legal advice, and lodged a formal complaint, which prompted the agency’s investigation and subsequent sting operation.
The ongoing probe has identified several victims who suffered substantial financial losses, including 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 lost ₦1.7 million, EFCC confirmed.
The Commission expects more victims to come forward as investigations continue.
During interrogations, the syndicate leaders claimed they were legitimate network marketers promoting Q-Net products, including health supplements. However, the EFCC clarified that the group misrepresented these activities as investment opportunities, deceiving victims with promises of weekly dollar payments and unrealistic profits.
Seized products and promotional materials are currently undergoing regulatory examination to verify their legitimacy and compliance.
The EFCC revealed that the criminal enterprise operated from several locations around Uyo, such as Ekom Iman Flyover, Transformer Junction on Abak Road, and Apostolic Lane in Nwaniba.
Confiscated items include 35 mobile phones, two Point-of-Sale (POS) machines, three public address systems, along with numerous incriminating documents and digital evidence.
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The Commission warned Nigerians to exercise caution when confronted with investment or job offers promising quick or guaranteed returns. It advised prospective investors to conduct thorough due diligence on any company and to remain wary of unsolicited proposals, especially those disseminated through social media channels.
The EFCC confirmed that the suspects will be prosecuted once the investigation is finalized.