Investors at MBA Capital and Training Limited, a forex trading company founded by Maxwell Odum, staged a protest on Wednesday at the headquarters of the Economic and Financial Crimes Commission (EFCC) in Abuja.
The protest was over the inability of Maxwell Odum, the chief executive officer (CEO) of MBA Capital and Training Limited, to refund investors their “unpaid dividends and capital”.
The victims were demanding the arrest and prosecution of Odum over allegations of fraud with his company, which is said to have its headquarters at Port Harcourt, the Rivers capital.
They maintained that a formal petition has been submitted to the Zonal office of the commission in Portharcourt Rivers State and vowed to mobilize all investors across the country to occupy the EFCC offices nationwide.
Victims Of MBA Forex Fraud Protest
The leader of the protesters, Christian Agadaga alleged that Odum absconded with over N100 billion from people all over the country.
“We are gathered today to seek the help of the EFCC chairman to help us track down Maxwell Odum and help retrieve all our money back and also for him to face the full wrath of the law. A lot of people are suffering from this unfortunate incident,” he said.
“We did not invest in a Ponzi scheme, we invested in forex and forex is legitimate business all over the world. We invested in a company that gave us a contract to sign and we all signed the contract making it a legitimate business.
“Now all branches of the company have been shut down we don’t know where the CEO of the company is. Our investment money is trapped since November 2020 and nowhere to retrieve it.
”We call on EFCC and Interpol to immediately swing into action and get Maxwell Odum arrested and compel him to refund the investors money. This is our demand “
Another victim, Rashidat told TheCable that she invested N1 million to meet up with her family needs.
“I invested N1 million for myself and my children. I did that then so I could come up with their school needs and also cater for the house needs, but now I have been left with nothing and it has been difficult for me since then,” she narrated.
“A lot of families are affected with this unfortunate event, and I am still struggling to raise the money back.”
Also speaking the Executive Director, Leadership and Citizens Development Centre, Comrade Enefaa GeorgeWill accused the anti-graft agency of conniving with the company.
He, therefore, threatened to mobilize other investors across the country and shut down the headquarters of the commission if they fail to arrest him.
“We are saying we will give the EFCC the benefit of doubt, though we have been enjoying a fraternity relationship with the zonal office of EFCC in Portharcourt before this rumour came up.
“The rumour making rounds especially on Portharcourt where the MBA office is located is that there is nothing investors will do. That all these noises we are making are just the usual Nigerian drama and that MBA has bought over EFCC headquarters and that is nothing we can do.
”We are saying after giving EFCC reasonable time and they did not arrest and prosecute Maxwell Odum we will be left with no other choice than to shut down the EFCC headquarters “
See photos of the protest below:
What We Know About MBA Forex Scam
It was gathered that Odum scammed over 70,000 investors of N171 billion using MBA Trading and Capital investments which operated illegally for over two years.
The investment company, which promised 15% ROI for deposits starting from N350,000, shut down their operation and absconded with their investor’s money last year October.
Before it shut down last year, MBA Forex CEO, Maxwell Odum was said to have voluntarily donated N1 billion to Christ Embassy out of N171 billion before he went into hiding.
Three months ago, the investors had stormed the Christ Embassy church in protest, asking Pastor Chris Oyakhilome to refund their money donated by Maxwell Odum.