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MBA Forex Victims: Can EFCC Deliver Justice?

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MBA Forex Victims: Can EFCC Deliver Justice?

Port Harcourt is known to bust with a Ponzi scheme from time to time, and the lesson is hardly learnt. From the days of Umana Umana bank where lives were ruined when important persons banked and crashed with them, to the MBA Forest of recent, it has been same tale.

Port Harcourt is an oil zone and so a mega bucks zone. People earn big and lose big because they invest big; in good and bad.

So, when a scheme came called MBA Forex emerged, big investors poured in billions of naira, and when it crashed, souls went aflame and ablaze. Many had hoped and prayed that government agencies could intervene and save what is left of their souls. It was late in coming because the suspects usually plan ahead.

Now, the Economic and Financial Crimes Commission (EFCC) has in Port Harcourt arraigned a director for alleged N13.8bn fraud.

The EFCC arraigned the director of Glossalalia Nigeria Ltd and Pelenged Nigeria Ltd, Precious Williams before Justice S. I . Mark of the Federal High Court, sitting in Port Harcourt, the Rivers State capital.

Williams is being prosecuted on a 14-count charge, bordering on conspiracy, advance fee fraud, obtaining money under false pretence and money laundering to the tune of N13.8 billion.

One of the charges reads: “That you, Precious Williams of Glossolalia Nigeria Limited; Pelegend Nigeria Limited, Phenom 413 Events Limited (company representative at large) and Doxasterz Oil and Gas Limited, sometime between the 24th day of August, 2019 and 15th day of February, 2020, at Port Harcourt, within the jurisdiction of this Honourable Court, directly took possession of the sum of Ten Billion Naira (N10bn) only from Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Limited (at large) through your Sterling Bank PLC Account No. 0064260799, when you reasonably ought to have known that the said funds formed part of the proceeds of the unlawful activities, of Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Limited (at large) of obtaining money under false pretence from one Christian I. Agadag Agadaga and over three thousand (3000) other unsuspecting members of the Nigerian public, under the pretext that it was for investment purposes that will yield for them 10% to 15% interest. There were other charges that ran contrary to Section 15 (2)(b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”

She pleaded “not guilty” to all the charges, prompting the prosecution counsel E. K. Bakam to ask for a trial date and to apply for the remand of the defendant in a correctional center, while counsel to the defendant, Tochukwu Maduka, SAN, informed the court of the defendant’s bail application and prayed the court to grant her bail to enable her to prepare for her trial.

In his ruling, the judge held that the defendant be remanded in the Port Harcourt Correctional Center and adjourned the matter till June 17, 2025 for the hearing of the bail application.

The defendant was arrested when petitioners alleged that she received money from over 3000 victims by false pretence and laundering the money for personal use sometime in April 2021.

The petitioners alleged that sometime in 2019 and 2020, the defendant alongside MBA Trading and Capital.

Businessday.ng

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Bandits Strike Again, Kill Vice Principal in Fresh School Attack

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Vigilantes Kill Over 100 Bandits In Zamfara

Tension and sorrow have gripped the Iluke Bunu community in Kogi State following a deadly bandit attack that reportedly claimed the life of the Vice Principal of Government Secondary School, Iluke.

According to reports, the victim, identified as Mr. Gani Anifowose, was brutally killed on Wednesday morning during an attack carried out by armed bandits.

Residents said the community is currently facing heightened security concerns, with fear and panic spreading across the area.

In another disturbing development, reports indicate that students from three neighbouring communities, who were scheduled to sit for the English Language WAEC examination on the same day, were allegedly abducted amid the worsening insecurity in the region.

The incidents have raised fresh concerns over the safety of students, teachers, and residents in vulnerable communities across Kogi State.

A representative of the community association called on security agencies and relevant authorities to urgently intensify efforts to restore peace, secure the affected communities, and ensure the safe return of the abducted victims.

“An hour is gone and no sign of rescue efforts from the security agencies despite placing several calls for help. We urge citizens to remain calm and continue praying for divine intervention, protection, and lasting peace in our communities.”

 

 

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BREAKING: Tinubu’s Ex-Minister in Trouble Over Certificate Scandal

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has reportedly stepped up its investigation into former Minister of Innovation, Science and Technology, Uche Nnaji, over allegations of certificate forgery.

According to a report by Premium Times, the anti-graft agency has begun efforts to locate the former minister after he allegedly failed to honour several invitations issued in connection with the ongoing investigation.

The publication reported that sources familiar with the matter said the ICPC had invited Nnaji for questioning through different channels, including telephone calls, emails and WhatsApp messages, but he did not appear before investigators.

One of the sources quoted by the newspaper claimed that the commission could declare the former minister wanted if attempts to secure his appearance are unsuccessful.

The latest development is said to be part of an investigation that followed a lengthy inquiry by Premium Times into Nnaji’s academic records and National Youth Service Corps (NYSC) documents.

The newspaper had earlier alleged that the former minister submitted forged degree and NYSC certificates during his ministerial screening and confirmation process in 2023.

According to the report, the ICPC has also sought information from the University of Nigeria, Nsukka (UNN), as part of its investigation.

Another source cited by Premium Times alleged that Nnaji’s failure to respond to the invitations may be linked to his political ambitions ahead of the 2027 governorship election in Enugu State.

The newspaper recently reported that the former minister moved from the All Progressives Congress (APC) to a faction of the Peoples Democratic Party (PDP) and later emerged as its governorship candidate.

Neither Nnaji nor his media aide, Robert Ngwu, had publicly responded to the latest allegations as of the time of filing this report. Premium Times said calls and messages sent to his spokesperson were not answered.

The controversy surrounding the former minister began after investigations into his academic qualifications were published in 2023.

According to the newspaper, Nnaji had approached the Federal High Court in Abuja in a bid to stop the release of his academic records by the University of Nigeria, Nsukka.

However, Premium Times reported that university authorities later informed the newspaper that although Nnaji was admitted into the institution, he did not graduate or obtain the certificate attributed to him.

The publication also stated that the National Youth Service Corps disowned the discharge certificate allegedly presented by the former minister.

Nnaji eventually resigned from his position shortly after the allegations became public.

The matter has continued to attract public attention, with several lawyers and civil society groups calling for a thorough investigation and, where necessary, prosecution in line with the law.

In a related development, POLITICS NIGERIA also reported earlier this year that an investigative panel set up by the Federal Ministry of Education examined the matter as part of a broader review of the allegations surrounding the former minister’s credentials.

The ICPC has yet to release an official public statement detailing the current status of its investigation

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FG to Declare Nationwide Public Holiday, Date Revealed

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Nigeria, Benin Sign Integration Pact

Nigeria’s Ministry of Interior is set to declare a nationwide public holiday across all sectors to mark Democracy Day 2026, potentially granting a one-day break for both private and public sector employees.

The federal government’s announcement regarding Democracy Day will be the only national public holiday observed in Nigeria in June 2026.

Democracy Day commemorates the 1993 presidential election and the nation’s struggle for democratic freedom. June 12, 2026, falls on a Friday.

On June 6, 2018, the late former president Muhammadu Buhari, in a public statement, changed the Democracy Day from May 29 to June 12, in honour of the June 12, 1993, presidential election and its winner, Moshood Kashimawo Olawale Abiola, who died in prison.

Abiola was born on August 14, 1937 and passed away under suspicious circumstances on July 7, 1998. A popular Ogun businessman, publisher, and politician of the Egba clan, he is often referred to as MKO Abiola.

He ran for the presidency in 1993 and was widely regarded as the presumed winner of the election, which was annulled by former military head of state, General Ibrahim Babangida.

Some southwest states had been celebrating June 12 as a public holiday and are holding ceremonies in Abiola’s honour until Buhari officially declared the day as Nigeria’s real democracy day. The former president, on Monday, June 10, 2018, signed the Public Holiday Amendment Bill into law.

The law, according to the former president’s ex-senior special assistant on National Assembly Matters (Senate), Ita Enang, allows a public holiday to be declared on June 12 every year, while May 29 is to be a handing-over date.

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