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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
News
Atiba Varsity Tasks New Staff, Places Premium On Academic Excellence

The Vice Chancellor of Atiba University, Oyo, Professor Sunday Okeniyi, has enjoined the newly employed staff of the institution to develop the spirit of teamwork, respect, and discipline, which are the hallmarks of every successful institution.
Okeniyi disclosed this during the orientation programme for the newly employed staff of the institution.
While welcoming the newly employed staff, he also congratulated them on their successful appointment into the fast-rising institution. “Your joining us today is not by chance, but by merit, commitment, and the will of God. Atiba University is a citadel of learning and character formation, envisioned to nurture and produce men and women of excellence, integrity, and service. By becoming part of this family, you are now co-builders of this noble vision.”
The V-C said the orientation programme was a deliberate initiative of the management to formally integrate the new staff into the University system. “It is designed to give you a clear understanding of our mission, vision, core values, rules, and operational culture. Our goal is not just for you to work here, but for you to thrive, contribute meaningfully, and leave an indelible mark on the growth and transformation of this University.”
He explained that the university places a premium on academic excellence, innovative research, moral uprightness, and community development. These values define the identity and are the standards the staff must all uphold in their respective assignments—whether as academic staff shaping young minds or as non-teaching staff providing essential support services that make our work possible.
While admitting much needed to be done, Okeniyi said the institution has recorded remarkable progress within a short time. “The future we envision—a future of global competitiveness, leadership in innovation and knowledge, and impact within and beyond Nigeria—requires the collective commitment of every member of staff. That includes you. Your dedication, creativity, and professionalism are needed to propel us forward,” he said.
News
This Is War, Kill Every Single One Of Them – Fani-Kayode Blows Hot Over Zamfara Mosque Massacre

Former Aviation Minister Femi Fani-Kayode has condemned the gruesome murder of five worshippers during an early morning prayer in Yandoto village, Tsafe Local Government Area of Zamfara State.
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Speaking via his 𝕏 account, he insisted that the killers should be wiped out, adding that there should be no room for discussions or negotiations.
Fani-Kayode asserted that the killers are terrorists not bandits and described their actions as an act of war.
He wrote: “These are not bandits. Pls stop calling them bandits. They are bloodthirsty killers and terrorists and every single one of them should be wiped off the face of the earth.
“If our people cannot worship God in peace then we have nothing. No negotiation, no discussion, no ransom payments, no rehabilitation.
“This is WAR. Kill every single one of them, wipe out their blood line and decimate their communities and abodes. There is no place on earth for those that slaughter innocent civilians.”
Meanwhile, the Peoples Democratic Party (PDP) in Kwara State has accused Governor AbdulRahman AbdulRazaq of failing to address the escalating banditry crisis in the state.
Naija News reports that a deadly attack occurred on Sunday in Oke-Ode, Ifelodun Local Government Area, which left several residents and vigilante members dead.
Speaking via a statement on Monday, the Publicity Secretary of the party, Olusegun Olusola Adewara, described the massacre as “a despicable and senseless act.”
He blamed the governor for the insecurity situation in the state, noting that it is a monumental leadership failure.
Adewara said, “The gruesome videos of the casualties circulating online make it look like Kwara is now at war. Under AbdulRahman’s watch, terror is reigning, kidnappers are taking over rural villages, and nowhere is safe again.”
The opposition party faulted AbdulRazaq’s alleged silence and absence from the affected community, insisting that a responsible leader should have personally visited Oke-Ode to commiserate with victims’ families and give assurances of decisive action.
It further accused the governor of neglecting local vigilantes and security personnel “battling criminals in the bush,” while diverting funds to “footballers and entertainers outside the state.”
The PDP’s criticism comes amid rising concern in Kwara North, where repeated bandit attacks have forced residents to abandon farms, schools, and businesses.
News
Nigeria @65: Atiku Knocks Tinubu’s Government In Strongly-Worded Independence Day Message; Details Emerge

Former Vice President Atiku Abubakar, has praised Nigerians for what he described as “uncommon patience, endurance, and resilience despite living under suffocating socio-economic and security conditions”
In his Independence Day message to Nigerians, the opposition leader alleged that the ruling All Progressives Congress (APC) administration had abandoned Nigerians to their fate
Atiku lamented that Nigerians were enduring pains from “raging insecurity, rising food scarcity, mass unemployment, and a dangerous climate of hopelessness all “compounded by the insensitivity of the APC-led administration
In an Independence Day message released by his media office, obtained by Legit.ng, Atiku lamented that Nigerians are enduring excruciating pains from raging insecurity, rising food scarcity, mass unemployment, and a dangerous climate of hopelessness.
The presidential hopeful accused the Tinubu administration of being insensitive to the plight of Nigerians.
Atiku declared: “It is tragic that in a country blessed with immense human and material resources, millions of our people have been reduced to refugees and beggars in their fatherland. Every responsible government holds the welfare and security of its citizens as supreme. But what we have today is an administration that has abandoned its people. Hunger is killing Nigerians, bandits are massacring communities, yet President Tinubu and his cabinet stand by, unmoved and uncaring.”
Furthermore, Atiku called on citizens not to lose faith, reminding Nigerians that the 2027 election provides a clear opportunity to reject bad leadership and reclaim the promise of a better tomorrow.
He said: “The beauty of democracy lies in the power of the ballot. Oppressed and battered as our people may feel today, they will have the chance to sweep away this inept government at the next polls. That is the power no cabal can take away from the people.”
At 65, Atiku noted, Nigeria remains “a giant moving painfully slow on feet of clay”.
The 78-year-old blamed Nigeria’s condition on “a direct result of decades of poor leadership and wasteful governance.”
He bemoaned: “Yet, he urged Nigerians to keep hope alive, insisting that with the right leadership, the country can still rise from the ashes of failed governance to reclaim its rightful place among the comity of nations.”
PRESS RELEASE
Nigeria @65: @atiku Hails Nigerians’ Courage, Blasts APC Over Economic Strangulation
Former Vice President of Nigeria and Waziri Adamawa, Atiku Abubakar, has paid tribute to the uncommon patience, endurance, and resilience of Nigerians who, despite living under… pic.twitter.com/cPnI9KzxrJ
— Paul Ibe (@omonlakiki) September 30, 2025