MBA forex is in the news again after the company is rumored to have gone bust, leaving hundreds of millions of dollars in investors accounts. Investors have flocked to the company s branches in The Best Forex Trader Program For Beginnersharcourt and Warri to claim their money back, but the officials there could only give them How Much Does a Forex Broker Charge promises. The company is now in the process of reopening its business, so stay tuned for further news.
MBA forex is currently under investigation in Nigeria, after the Central Bank of Nigeria CBN frozen the accounts of 39 of its traders. The company was shut down last November, resulting in the loss of over N171 billion in investor funds. The company s owner, Maxwell Odum, has been accused of defrauding investors of billions of Naira. The firm s victims are demanding their investment returns and are protesting against him. They have also delivered a protest letter to the palace of the traditional ruler of Elekahia.
The Securities and Exchange Commission SEC has warned Nigerians to beware of the MBA Forex scheme. The SEC s Port Harcourt Head of Investigation and Enforcement, Suzzie Enebli, spoke out following protests by investors who want to get their money back and the scheme management arrested.
Meanwhile, more investors are filing lawsuits against the company. This has prompted the CBN to freeze N220 million in its accounts. The bank has not yet completed its investigation, but it cannot preempt a court s direction. The company cannot deny these claims, as it is already facing a legal battle.
The EFCC and DSS have also been investigating the company. The scam is rife in Nigeria and is responsible for the loss of millions of dollars. It is unclear how long MBA Forex will be in business. If it has been operating legally, it will last at least four years.
The MBA Forex Company is a scam, and many Nigerians lost their money by investing in it. According to the Central Bank of Nigeria, over 125,397 investors deposited a total of N171 billion in the firm s account. And MBA has refused to pay its investors, citing a number of problems with Nigerians.