Enugu Ponzi Scheme Victims Receive N96.5m From EFCC

Victims of ponzi schemes in Enugu State have received N96.5 million from the Economic and Financial Crimes Commission, or EFCC.

Dele Oyewale, a spokesman for the EFCC, revealed this in a statement on Friday in Abuja.

According to Oyewale, the action was consistent with the anti-graft agency’s mission to fight financial and economic crimes and provide compensation to victims of fraudulent schemes.

He stated that on September 30, 2024, Chijioke Ngwu and others filed a petition with the Commission against Oyubu Akpojewve, also known as Justice Nonso Chima, Managing Director, Leverage Index Limited.

According to Oyewale, the petitioners claimed that Akpojewve had deceived them into making investments in a Ponzi scheme.

“He offered two different formats to potential investors: the Monthly Plan and Live Trading.”

In order for the company to employ the Monthly Plan and engage in forex trading, an investor had to transfer a minimum of N2.5 million or more to a UBA account number.

After that, the investor receives a monthly profit of N200,000.00, or 8% of the entire amount invested; if the investor so chooses, the initial capital of N2.5 million or more is kept for additional monthly trading.

The petitioners stated that “the Live Trading format is such that an investor transfers any amount of money to Leverage Index into the said account for a live trading session on a designated day for the firm to trade with on the same designated day and remits 10% of the total sum transferred initially as profit to the investor the next day.”

The petitioners claim that after investing the aforementioned amount, Akpojewve—who claimed to be a registered foreign exchange trader—began making reasons that bordered on conflict with his trading partners. Before they knew it, he had closed his office and was unavailable.

According to Oyewale, Commission agents acted quickly and found that Akpojewve and his associates had plotted to steal the hard-earned money of gullible victims.

EFCC Chairman Ola Olukoyede reaffirmed the Commission’s commitment to fighting financial and economic crimes while giving the victims the money that has been seized.

Olukayode, speaking on behalf of Mr. Daniel Isei, the Commission’s Enugu Zonal Director, stated that the Commission would keep making sure that victims regain their lost money and belongings and that scammers are not allowed to profit from their crimes.

Beyond just giving you the draft, my own conclusion is that this should also be a lesson. We ought to be more careful. Every time we submit a business proposal, we should be more watchful.

Some can appear too good to be true. We shouldn’t rush to quadruple our money in an instant. I believe that we should take this lesson to heart and discuss it with our loved ones, friends, and kids at home.

“I hope this will serve as a reminder that the EFCC is working for you as Nigerians and, secondly, that this is a lesson for you.”

One of the victims, Ukwu Ernest Ikechukwu, who was given a N19.9 million bank draft, praised the Commission for its professionalism and honesty in carrying out its responsibilities.

Ikechukwu Ogbunubi, who also collected N10 million from the recovered cash, praised the Commission for its tenacious efforts to recover the entire amount.

Ngwu A received N19.4 million, Alphonsus Umeh received N7 million, while Temple Lewis Maduka received N7.5 million.