The Economic and Financial Crimes Commission has issued a stern warning to Nigerians, particularly the youth, to steer clear of Ponzi schemes.
The commission described them as not only destructive to individual lives but also a serious threat to national security and economic growth.
A statement on Monday by the EFCC’s Head of Media and Publicity, Dele Oyewale, said the Acting Zonal Director of the EFCC in Enugu, Assistant Commander Aisha Abubakar, sounded the alarm on Friday, during the 2025 Annual Management Retreat of the Nigeria Security and Civil Defence Corps in Enugu.
Speaking on the topic “Get-Rich-Quick Syndrome and the Youth Vulnerability: The Case Study of Ponzi Scheme—The Role of Law Enforcement in Prevention and Disruption,” Abubakar decried the growing influence of the get-rich-quick mentality among Nigerian youths, stating that it has become both a security and economic menace.
