The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has announced that the commission has secured the conviction of 12 persons charged with unlicensed operations of pyramid businesses in the country.
Speaking at 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’, the EFCC boss explained that 48 others are currently facing legal proceedings before the court.
Olukoyede 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.