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Investors seek prosecution of businessman over alleged N171b fraud


• INEC cautions against lobbying for new polling units in Rivers
The Economic and Financial Crimes Commission (EFCC) has been tasked to arrest and prosecute the Chief Executive Officer of the MBA Capital Trading Investment Limited, Maxwell Weli Odum over alleged failure to pay investors.

Hundreds of Nigerians, who claimed to have been defrauded by a foreign exchange (Forex) trading company made the call yesterday in Port Harcourt, Rivers State, during a protest to the South-South headquarters of the EFCC.

Spokesman of victims of the MBA Forex scam in Port Harcourt, Christian Agadaga, said investors were promised 15 per cent returns on their investments money every month, but had received nothing.


Agadaga said over 155 Nigerians, who were victims, paid N171b into the company’s account, adding: “We want to use this opportunity to let the world know that something more dangerous than terrorism is happening in Nigeria.

“Hardworking Nigerians invested their money in MBA TCI Limited with a promise to get 15 per cent interest monthly and since November 2020, none of them have been paid.”

Chairman, Rivers State Civil Society Organisation, Enefaa Georgewill, stressed the need for EFCC’s urgent intervention, just as he accused the company of defrauding investors.

“We are in solidarity with victims of the MBA Forex Trading and we call on the EFCC to immediately investigate and prosecute the company,” he added.

MEANWHILE, the Independent National Electoral Commission (INEC), has cautioned members of the public against putting pressure on its staff by lobbying for more polling units in some locations outside the approved areas.

INEC Resident Electoral Commissioner (REC) in Rivers State, Obo Effanga, gave the charge in Port Harcourt, while giving an update on the ongoing expansion of access to polling units across the country.

Effanga pointed out that the commission had all relevant information on the existence, location and number of registered voters in the polling units across the state, just as it understood where new polling units would be created.

He explained that the exercise was the commission’s administrative activity, maintaining that there was no need for lobbying.

“There are 4,442 polling units (PUs) in Rivers State presently. Based on the lower threshold of 500 and upper threshold of 750 INEC determined for the conversion of voting points to polling units, it is considering converting 2,424 voting points to polling units,” he said.


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