The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says the commission has secured the conviction of 12 persons charged with unlicensed operations of pyramid businesses in Nigeria
Olukoyede who was speaking during a workshop organised by the Securities and Exchange Commission for judges with the theme ‘Repositioning the Nigerian Capital Market for National Economic Transformation Through Alternative Dispute Resolution’, also says 48 others are currently facing legal proceedings before the court.
The EFCC boss stated that the anti-graft agency would not condone any act that undermines investor confidence or dampens fairness in the nation’s capital market.
In March 2025, the agency charged a total of 58 operators of Ponzi schemes to court.
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