KEY POINTS
- EFCC Ponzi scheme recovery returns millions to victims.
- EFCC Ponzi scheme recovery demonstrates commitment to anti-graft efforts.
- EFCC Ponzi scheme recovery reinforces public trust in enforcement.
The Economic and Financial Crimes Commission has returned N96.5 million to several victims of a collapsed Ponzi scheme in Enugu. The payment marks another push by Nigeria’s anti-graft agency to restore funds lost to fraudulent investment platforms.
EFCC targets fraudulent forex operations
EFCC spokesperson Dele Oyewale disclosed the recovery in Abuja. He said the action shows the commission’s renewed focus on restitution. He noted that investigators acted quickly after receiving a petition in September 2024. The petition came from Chijioke Ngwu and others. They accused Oyubu Akpojewve of running a fake investment scheme. Akpojewve also used the alias Justice Nonso Chima. He headed a company called Leverage Index Limited.
The victims said Akpojewve promised steady forex returns. He used two investment formats to lure investors. One plan was the Monthly Plan. The other was a Live Trading Plan. The Monthly Plan required a minimum N2.5 million. Investors transferred funds to a UBA account. The company promised eight percent monthly returns. Investors also had the option to keep their capital active.
The Live Trading Plan worked differently. Investors sent any amount for a one-day forex trade. The firm promised ten percent returns the next day. Victims later discovered the operation was fake.
According to the petition, Akpojewve later offered excuses. He cited disagreements with trading partners. He then shut down his office. Soon after, he disappeared. Investigators later uncovered a conspiracy. They said Akpojewve worked with accomplices. Their goal was to defraud unsuspecting investors.
Victims receive funds and learn financial lessons
EFCC Chairman Ola Olukoyede urged caution. He warned Nigerians to avoid quick-profit schemes. Olukoyede delivered the message through Daniel Isei, the agency’s Enugu Zonal Director.
He reminded victims that greed fuels fraud, and urged them to remain vigilant. He also encouraged public awareness. Several victims received refunds. Ukwu Ernest Ikechukwu got N19.9 million. Ikechukwu Ogbunubi received N10 million. Other recipients included Temple Lewis Maduka with N7.5 million, Ngwu A with N19.4 million, and Alphonsus Umeh with N7 million.
The commission said it will continue its crackdown. It aims to block criminals from enjoying illicit proceeds. It also plans to prioritise restitution for victims.
