It’s another sad news in December for all investors, as MBA forex company has allegedly crashed, leaving all those who have invested more than hundreds of millions into the trade run into losses.
The mass number of people, who have invested in this trade has made their way to their branches in Warri and Portharcourt, demanding the return of the hard-earned money they invested in the trade.
Upon the demand of people for their money, the company officials could only give out empty promises as regards their return of money.
Many of the investors who spoke with the news media said, despite investing millions of money into the trade, the company couldn’t live up to their promise.
Furthermore, this platform allows people to invest a minimum of #350,000 naira to hundreds of millions, and promise to return 15% of the money they invested each month for six months.
We once reviewed this investment project citing that MBA forex is a scam but many gullible people wouldn’t believe that
Also, Jude Nwaneri who is a financial advisor, made it known that it’s not anywhere done in the world, where a company will give 15% interest back to the investor each month for six months, as such a thing is not feasible.
Ayogu Fidelis who invested more than a million naira into this scheme said, he got zero in return only for the company to start blaming banks for their woes.
All attempts for people and journalists to speak with Chief Executive Officer/Managing Director of MBA Forex Institute, Maxwell Odum, proved abortive.
However, the company officials are not claiming that they won’t fulfill their promise, but they are telling people to bear with them, as they have some issues with the bank.
Let’s have your view on this issue, what can you say about the investment scheme? Is forex trading still reliable? We would love to hear from you, in the comment box.
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Honestly I dont really know what is going on I invested alots of money in MBA forex for two months now they are give us excuses I really need my money back. I scared of what's happening now.
I feel sorry for all of you. We work on forex and we know that it is not only impossible but there is no way for anyone to even consistently make 1% a month not 15%.
All you can do is start saving again and hope this will be a lesson for everyone. If it is too good to be true then it really is.
ok sir, it's obvious
am a forex trader, you can actually make up to 10% monthly but not always consistent except you are willing to take a high drawdown and no fund manager is willing to give you even 5% monthly. when i heard of company giving out 15%, i knew they are all ponzi, using forex as names to cover up. i have been a trader for 10 years, the journey is not easy. i have explored so may strategy for fund trading management and still have not seen any that will give you consistent 20% without a high drawdown above 20% on real live test.
good
100% true
Someone bought aeroplane and plan crash. It very unfortunate that some people don't benefits l am an investor l was paid for eleven months. I received 15% of my first investment and collected my capital after which I invested again. I was paid for five months before issue of non payment came out. If Maxwell odum intension was to scam l do not think he would have come out openly to. Nigerian by encourage to invest in forex trading. Every responsible business person is a risk taker. Every investment is a matter of gain or loss. I have not lost hope, because l know he will pay us in order to save his family name. I pray God to help us over his stress.
Ok sir
Am still not getting it right...is it crashed truely?
you can check their office nearest to you sir, to confirm
I have had reservation for this claim that 15% return per month is feasable. Let's watch and see.
ok sir
I Dont know how they trade really but for a company trading 15% monthly is feasible. I mean trading is the only thing they do.. I'm a partime trader i trade only daily time frame or higher i make upto 5% consistently monthly, so its either the company took large risks and lost people's money or their system is flawed.
or they are no real traders.
This is a false information and such should be disregarded. The author seems to capitalize on the number of people searching about MBA. When MBA crashed you'd know. I haven't been paid for December but I'm still expectant
0nye eriri eri
Forex is real, and making 20-30% a month is feasible, especially when your equity is paltry $100-500. But when you manage several millions of naira, the pressure will the different, and trading becomes torturous, especially after a series of losses.
Lastly, I'm not sure MBA Forex really trades FX with investor's monies.
exactly
Pls our government, Cbn and Sec should learn to investigate what companies does at first when it is newly opened and make sure it's well registered.unable to meet up to the requirement for establishment, such an organisation should be closed immediately and never allowed to function. It is very sad that after people have long invested on the scammers platform, sec, cbn and government will now come out to tell us rubbish. MBA has been in existence since 2017,If the company was not allowed to function on finding out that it is a Ponzi scheme, many of these newly investors wouldn't have fallen victims.
Those of you saying it's not possible to consistently make 1% interest in forex trading don't actually know what you're saying. Speak for yourself alone and do not generalize anything here.
Let's just keep praying that they return our money back to us