EFCC refunds N96.5m to ponzi scheme victims

The Economic and Financial Crimes Commission has refunded N96.5 million to victims of Ponzi schemes in Enugu State.

EFCC’s spokesperson Dele Oyewale says the move reflects the agency’s commitment to justice for victims of financial fraud.

The commission acted following a petition dated September 30, 2024, filed by one Chijioke Ngwu and others against Oyubu Akpojewve, also known as Justice Nonso Chima, Managing Director of Leverage Index Limited.

The petitioners has accused Akpojewve of enticing them into investing in a Ponzi scheme.

According to the petition, Akpojewve offered two investment plans: a Monthly Plan and a Live Trading Plan. The Monthly Plan required a minimum investment of N2.5 million in a UBA account, promising a monthly profit of N200,000 or 8% of the invested sum, while the principal could remain for continued trading.

The Live Trading Plan allowed investors to transfer any amount for a designated trading session, with a 10% profit promised the next day. After collecting funds, Akpojewve, claiming to be a registered forex trader, allegedly provided excuses about disagreements with partners before shutting down his office and becoming unreachable.

EFCC operatives investigated and discovered that Akpojewve, along with accomplices, had defrauded victims of their hard-earned money.

During the handover, EFCC Chairman Ola Olukoyede, represented by Enugu Zonal Director Daniel Isei, reaffirmed the commission’s commitment to recovering proceeds of crime for victims and preventing fraudsters from benefiting from illegal activities.

Olukoyede urged Nigerians to exercise caution in financial dealings, warning against schemes promising overnight wealth. He emphasized the importance of vigilance and using the experience as a lesson to educate friends, family, and children.