Over 70 bank accounts have been linked to FF Tiffany Ponzi Scheme as SEC and Moniepoint launch investigations.
An in-depth investigation by THE WHISTLER has uncovered more than 70 bank accounts allegedly used by operators of the FF Tiffany Ponzi scheme to defraud unsuspecting Nigerians of billions of naira through bogus investment promises.
The investigation revealed that 59 of the accounts were linked to Goldman Microfinance Bank, while Moniepoint Microfinance Bank hosted five. Additionally, GOMONEY and Paga, two digital payment platforms, were connected to four and two accounts respectively.
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These accounts, reportedly used to siphon funds from desperate investors, bear the names of individuals suspected to be fronts or accomplices in the scheme. The full list includes names such as Alamin Ahmad Sani, Fatima Usman Shuaibu, Abubakar Sadiq Musa, Maryam Yusuf Muhammad, and Zubairu Lawan, among others—many of whom held multiple accounts with Goldman Microfinance Bank.
MONIEPOINT REACTS
Reacting to the revelations, Moniepoint Microfinance Bank confirmed the commencement of an internal investigation to identify the individuals linked to the five accounts traced to its platform. In a letter signed by a representative identified as Olumayowa, the bank requested THE WHISTLER to provide account-level details to aid its probe.
“Moniepoint maintains a strict policy against fraudulent activities and imposes severe penalties on any account found culpable,” the bank stated.
“We have initiated an investigation into the matter and request specific details of the Moniepoint accounts identified in your report.”
The Moniepoint-linked accounts include:
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Ibrahim Hauwa (Acct No: 6057043044)
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Idris Hassan (Acct No: 6057247756)
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Clara Folashade Dada (Acct No: 5042343790)
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Aminat Opeyemi Shokoya (Acct No: 60514980919)
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Gloria Michael (Acct No: 6056100072)
REGULATORS STEP IN
Meanwhile, the Securities and Exchange Commission (SEC) has also confirmed it is launching a full-scale investigation into FF Tiffany’s operations. In a statement issued Tuesday, the Commission described the scheme as a serious threat to investor confidence and the integrity of Nigeria’s financial system.
“The Commission is working closely with law enforcement agencies and other relevant institutions to ensure that those responsible are brought to book,” the SEC stated.
“Prosecution will follow in line with the Investment and Securities Act and all relevant regulatory frameworks.”
GOLDMAN MFB IN THE SPOTLIGHT
Of particular concern is Goldman Microfinance Bank, which hosted the vast majority of accounts linked to the scheme. Despite its apparent central role, Goldman MFB appears to have gone quiet. THE WHISTLER traced the bank’s registered address to 3B Ezenei Avenue, Umuezei, Asaba, Delta State. However, when the phone number associated with the bank—07035553441—was called, the line had been deactivated. Truecaller identified the number as belonging to “Shola Fantastic.”
GOMONEY AND PAGA ALSO IMPLICATED
Four accounts tied to GOMONEY and two to Paga were also found to be involved. Among them:
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Sulaiman Abdullahi (Appears on both GOMONEY and Paga platforms)
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Fatuma Adamu, Asabe Ayiya, Ahmad Hassan, and Muhammad Abdullahi
Authorities are now intensifying efforts to trace, freeze, and recover stolen funds as part of broader enforcement actions. Meanwhile, victims of the scheme are being encouraged to come forward with evidence that could support ongoing investigations.
The FF Tiffany case is the latest in a string of fraudulent investment schemes that have targeted financially vulnerable Nigerians, exploiting weak regulatory oversight and the increasing use of digital financial platforms.
As investigations deepen, regulatory agencies and financial institutions are under mounting pressure to not only unearth the full scope of the fraud but also take definitive steps to prevent similar schemes in the future.
