EFCC warns Abia residents against fake poverty alleviation schemes

Magnus Eze, Enugu

The Economic and Financial Crimes Commission (EFCC) has warned residents of Abia State, especially the commercial city of Aba, to be wary of Ponzi schemes, particularly organisations parading themselves as public interest.

It said that several organisations were currently in the area promising mouth-watering incentives, sometimes as high as 60 per cent return on investment for subscribers in a space of one week.

At a press conference on the activities of the commission in the South East in the first quarter of the year on Friday, the zonal head of the commission, Usman Imam, listed some organisations which according to him designed and promoted fraudulent schemes purporting to be empowerment and poverty alleviation programmes.

The organisations which he warned Aba residents not to associate with included Perfect Ladies, Unstoppable Ladies, Christian Ladies, Unlimited Ladies, Raising Lives and Ever Better Association.

“Members of the public are advised to be wary of the activities of fraudsters who disguise as poverty alleviators to fleece them of their hard-earned money. Nigerians should not be greedy, looking for unmerited gain from non-existing business proposals. The ‘Lets Partner with You’, Ksley Mega, MMM and recently, LOOM, are examples of cases where greed overshadowed reasoning,” Imam stated.