A coalition of aggrieved investors under the umbrella of Angry MBA Trade and Investment Limited Investors has issued a strong call to the Federal Government of Nigeria, the Central Bank of Nigeria (CBN), and the Economic and Financial Crimes Commission (EFCC) to urgently address the unresolved ₦213 billion investment crisis linked to MBA Trade and Investment Limited.
MBA Trade and Investment Limited, owned by Maxwell Odum, operated as a financial services firm offering investment opportunities with promises of high returns, reportedly up to 15% monthly ROI. The company attracted thousands of investors across Nigeria and in the diaspora before abruptly halting payments, leaving investors stranded.
In February 2021, the Central Bank of Nigeria under the leadership of
Godwin Emefiele, secured a court order to freeze the company’s accounts for 180 days to facilitate an investigation into its operations. While the move was initially seen as a protective measure for investors, concerns have since intensified over the lack of transparency surrounding the outcome of the investigation.
Following the expiration of the freeze period, the accounts were reportedly reopened without any publicly disclosed findings or a clear restitution plan for affected investors. This development has fueled widespread outrage and deepened the financial and emotional distress of victims.
On December 9, 2021, the Economic and Financial Crimes Commission (EFCC) declared the company’s Chief Executive Officer, Maxwell Odum, wanted over allegations relating to the ₦213 billion fraud. However, years later, investors say there has been little to no progress in recovering their funds.
Further concerns arose on July 25, 2023, when reports indicated that the accounts previously under investigation were reopened by
the new CBN Governor Layering Michael Cardoso, again without official communication on investigative outcomes or investor compensation.
The prolonged uncertainty has had devastating consequences. Numerous small businesses have collapsed due to loss of capital, families have faced serious financial strain, and some affected individuals have reportedly suffered severe emotional trauma and health challenges.
The group is calling for urgent and decisive action, including:
Full Transparency: Immediate publication of the CBN’s investigation report into MBA Trade and Investment Limited.
Restitution Plan: Establishment of a clear, structured, and fair process for refunding investors’ funds.
Accountability: Swift prosecution of all the following individuals found culpable in the alleged fraud:
1. Maxwell Chizi Odum:
Founder / CEO
Head of MBA Trading and Capital Investment Ltd.
2. Claude Herve:
Business development and sales associate at AFX Group UK.
He Appeared alongside Maxwell Odum during a forex investment summit promoting MBA Forex partnerships.
3. Joel Adoki:
Country Manager for Fintech Global Markets.
He Participated in financial investor events with MBA Forex leadership.
4. Natalia Stetco:
Head of Back Office and Trade Desk at AFX Group UK.
Also appeared in industry sessions connected to MBA Forex promotion.
Victim Support: Provision of financial and psychological support systems for affected investors.
The Angry MBA Trade and Investment Limited Investors emphasized the urgency of the situation:
“This is not just about money, it is about trust, justice, and the integrity of Nigeria’s financial system. Thousands of Nigerians have been left in pain and uncertainty for years. We are calling on the authorities to act now.”
The group also called on civil society organizations, media institutions, and public accountability platforms—including: •Economic and Financial Crimes Commission (EFCC)
•Independent Corrupt Practices Commission (ICPC)
•Public Complaints Commission
•National Human Rights Commission (NHRC)
•Central Bank of Nigeria (CBN)
•SERAP
•Enough is Enough Nigeria
•BudgIT
•Yiaga Africa
•Connected Development
•CISLAC
•Sahara Reporters
•Premium Times
•TheCable
•Arise News
•Channels Television
•Martins Vincent Otse (VDM)
•Atanda People’s Parliament Services
•Rinu Oduala
•Omoyele Sowore
To amplify the issue and demand justice for the affected investors.
Angry MBA Trade and Investment Limited Investors is a coalition of affected individuals advocating for justice, accountability, and the recovery of funds lost in the MBA investment scheme.
Media Contact:
•Mr. OGBOEN U. STEPHEN
•Mr. PRINCE ORIBHABOR.
•Mr. PHILIPS OSEVWE
•Mr. ALI A. UCHENNA
Representatives, Angry MBA Trade and Investment Limited Investors
From MBA group
#N213BillionScandal
#JusticeForMBAInvestors
#MBAInvestmentScam
#EndFinancialFraud
#InvestorJusticeNow
#CBNAccountability
#EFCCActNow
#HoldLeadersAccountable
#TransparencyMatters
#JusticeDelayedIsJusticeDenied
#ProtectNigerianInvestors
#EndCorruptionNow
#VoicesForJustice
#NigeriansDeserveBetter
#SpeakUpNigeria
