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Group tasks EFCC on rising menace of ponzi schemes in Rivers



A group of investors, who protested to the Port Harcourt Zonal office of the Economic and Financial Crimes Commission (EFCC) seeking urgent intervention in a multi-million naira purported investment, have urged the commission to end what they described as ‘fraudulent schemes.’

The group lamented that the prevalence of the fraudulent schemes was sending many Nigerians to their early grave, especially in Port Harcourt, the Rivers State capital.


The victims disclosed that the latest scheme investment was floated under the guise of foreign exchange (Forex) trade by Cafint Resources Limited in Port Harcourt but later turned into a ponzi scheme, as the promoters absconded with millions of investor’s money.

Carrying various placards and banners, yesterday, they demanded a refund of their investments, which they alleged the Chief Executive Officer of Cafint Resources Limited, Samuel Chijioke Okonkwo, fraudulently received from Port Harcourt residents.

Some of the inscriptions on the banners read: A Fraudster Is Not Different From A Terrorist; Enough Is Enough Give Us Our Hard Earned Money and Samuel Chijoike Okonkwo, Get Ready To Be A Co-Tenant Of Hushpuppi, among others.


Speaking on behalf of the victims, Ken Okorie, told The Guardian that trouble started when operators of the scheme, which started in October 2020, promised to pay dividends after a few months of the investment but failed to fulfill their promise.

BESIDES, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned an Assistant Registrar of the University of Calabar Post-Graduate School, Mrs. Emem Akpan, for allegedly demanding bribe from a former student.

In a statement issued by Mrs. Azuka Ogugua, the commission said a two count-charge filed at the High Court of Cross River State, Calabar, also arraigned one Promise Osundu for alleged complicity in soliciting a bribe from a post-graduate student, Mrs. Susan Eno-Abasi Genschow.


The charge filed before Justice I. B. Itade of High Court 9, revealed that Osundu, who was a Project Manager in Seamfix Nigeria Limited for the University of Calabar Transcript Projects, conspired with the Assistant Registrar, Mrs. Akpan, to defraud Mrs. Genschow of N110, 500 for processing her transcript and certificate.

Akpan’s counsel, O. G. Onah, filed a bail application, which was not opposed by ICPC Counsel, Kioba Anabrabra.

Ruling on the bail application, Justice Itade, granted them bail in the sum of N3 million each with one surety in like sum. And adjourned the case to October 21, 2021, for trial.


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