Victims of failed MBA Forex ponzi disagree with CBN on probe outcome

Aggrieved investors of failed MBA Forex ponzi scheme have disagreed with representatives of the Central Bank of Nigeria (CBN) in Port Harcourt, Rivers State following the bank’s claims that multiple litigations stopped its investigations on the matter.

The investors had requested for the outcome of the investigation on MBA Trading and Capital Investment Limited accounts said to have received over 171bn from Nigerian investors.

The CBN representative, in the meeting with MBA investors’ representatives, assured the victims that CBN would do everything possible to return the money to the investors.

The CBN representative was quoted as saying: “It is true that the order granted by the court to investigate MBA finances for 180 days elapsed on the 11th August 2021 but the case is in court and more Investors are suing the CBN and MBA.

“The legal department of the Apex bank has confirmed that the investigation hasn’t been concluded so far as a result of the ongoing litigations otherwise the apex bank would have concluded its investigation without these numerous litigations from interested parties.

“The apex bank cannot preempt the court, it is the court that would give the final direction. The decision of unfreezing and payment would commence once these cases are settled, investors will definitely here from CBN,” the CBM representative said.

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Speaking on behalf of the aggrieved investors, Mr. Henry Senibo, said the apex bank only approached the Federal High Court for an interim court order to stop all debit transactions from MBA accounts for 180 days pending the outcome of the said investigation.

He said: “CBN did not sue MBA in and so CBN cannot say it has not concluded its investigation as a result of numerous litigations from investors, MBA Investors are in a deplorable condition some Investors have lost their lives as a result of this pending issue.”

He said persons, who took the CBN gave N220m as the amount frozen by the bank wonder why the apex bank, could not conclude its investigation within the stipulated timeframe granted by the court.

He said: “The MBA investors have decided to carry out a non-stop protest to the CBN nationwide until the bank makes its investigation known to Nigerian Investors. We enjoin Investors to cease litigations so we don’t compound the already complex issues on ground as advised by the legal department of the apex bank”.

(The Nation)