In case you didn’t know, MBA Forex is a trading company that collects money from investors, trade for them and pay them monthly return on investment.
Going by the information on their website, they have over 10 thousand active investors in more than 10 business locations in Nigeria. In Port Harcourt alone, they have over 3 thousands investors according to reports.
According to one of their investors, their issue started when they couldn’t pay investors their due return on investment in November after which the MD, Mr Maxwell Odum explained that they were going through a transition and promised to pay in December.
While some said his message was timely and assuring, others, however, think the company is employing delay tactics having claimed to have migrated to a new platform which caused its inability to pay. Other times, it claimed it’s funds was seized by banks.
Fast forward to December 2020, instead of paying investors their due return on investment, the company announced on Dec 19th that they were closing for the year to resume on January 5th 2020.
The news did not go on well with their community as angry investors stormed the firm’s premises to demand an explanation but there was no one to attend to them as the gate had been closed.
Immediately photos of angry investors at their office made it to the streets of social media, MBA Forex was trending on Twitter with many people claiming that MBA Forex is a Ponzi scheme and has crashed.
But has MBA Forex crashed?
Well, we cannot tell, we can only wait for them to resume tomorrow and start paying their investors. But if they don’t come back and no payment made to their investors this month, we will only advice our community to pray more.
Whatever happens, be rest assured that we will keep you updated.
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