The Economic and Financial Crimes Commission has handed back N96.5 million to victims of a forex-based Ponzi scheme in Enugu State.
EFCC spokesperson Dele Oyewale confirmed the development in a statement on Friday in Abuja. He said the refund followed the commission’s investigation into complaints filed by investors who lost money after committing funds to Leverage Index Limited.
According to Oyewale, the EFCC received a petition on September 30, 2024, from Chijioke Ngwu and several others accusing the company’s Managing Director, Oyubu Akpojewve, also known as Justice Nonso Chima, of luring them into fake investment plans.
He said the victims claimed Akpojewve presented two investment options. “He presented offers to prospective investors in two formats: what he called the Monthly Plan and another one called Live Trading,” Oyewale said.
Under the Monthly Plan, investors were told to pay a minimum of N2.5 million into a specified UBA account for forex trading, with a promised monthly return of N200,000 or eight percent. The Live Trading option allowed investors to transfer any amount for a one-day trading session, with the promise of a 10 percent profit the next day.
The victims said the operator, who introduced himself as a registered forex trader, stopped paying returns and later shut down his office after a series of excuses.
Oyewale said EFCC investigators discovered that Akpojewve acted with accomplices to defraud the investors.
While handing over the recovered funds, EFCC Chairman Ola Olukoyede, represented by the Enugu Zonal Director, Daniel Isei, urged Nigerians to be more careful when approached with unrealistic investment offers.
He said, “My own final word, beyond giving you the draft, is that this should also serve as a lesson. We should be more circumspect. We should be more vigilant during every business proposal. Some can look too good to be real. We should not be in a hurry to double our money overnight.”
He added, “I hope this will serve as encouragement that EFCC is working for you as Nigerians, and secondly, to take home that this is a learning point for you.”
Victims who received their refunds praised the commission’s efforts. Ukwu Ernest Ikechukwu, who collected N19.9 million, thanked the EFCC for its professionalism. Another victim, Ikechukwu Ogbunubi, who got N10 million, said he was impressed by the recovery process.
Others who received payments include Temple Lewis Maduka with N7.5 million, Ngwu A with N19.4 million, and Alphonsus Umeh with N7 million.
