EFCC Delivers N96.5 Million to Enugu Ponzi Scheme Victims

Table of Contents

1. Handover of Funds
2. EFCC's Commitment
3. Details of the Petition
4. Investment Schemes Explained
5. Fraudulent Activities
6. Recovery of Funds
7. Victim Testimonials

The Economic and Financial Crimes Commission (EFCC) has returned N96.5 million to victims of Ponzi schemes in Enugu State.

EFCC spokesperson Dele Oyewale announced this in a statement on Friday in Abuja.

Oyewale stated that this action reflects the anti-graft agency’s dedication to fighting economic and financial crimes while ensuring restitution for victims of fraudulent schemes.

He mentioned that the Commission received a petition on September 30, 2024, from Chijioke Ngwu and others against Oyubu Akpojewve, also known as Justice Nonso Chima, the Managing Director of Leverage Index Limited.

According to Oyewale, the petitioners accused Akpojewve of enticing them into investing in a Ponzi scheme.

“He offered potential investors two plans: the Monthly Plan and Live Trading,” he explained.

“The Monthly Plan required an investor to transfer a minimum of N2.5 million or more to a UBA account, which the firm would use for forex trading.

“After this, investors would receive a monthly profit of N200,000 or eight percent of the total investment, while the initial capital of N2.5 million or more would remain for ongoing monthly trading, if the investor so desired.

“The Live Trading format involved investors transferring any amount to Leverage Index for a live trading session on a specified day, with the firm trading on that day and remitting 10 percent of the total transferred amount as profit to the investor the following day,” the petitioners stated.

The petitioners claimed that after investing, Akpojewve, who presented himself as a registered forex trader, began making excuses related to disputes with his trading partners. Eventually, he closed his office and became unreachable.

Oyewale reported that the Commission's operatives acted swiftly and uncovered that Akpojewve conspired with accomplices to defraud unsuspecting victims of their hard-earned money.

During the handover of the recovered funds to the victims, EFCC Chairman Ola Olukoyede emphasized the Commission’s commitment to fighting economic and financial crimes.

Represented by the Enugu Zonal Director of the Commission, Mr. Daniel Isei, Olukoyede stated that the Commission will continue to ensure that fraudsters do not benefit from their crimes and that victims receive their lost funds and properties.

“My final message, beyond providing you with the draft, is that this should serve as a lesson. We need to be more cautious and vigilant with every business proposal,” he advised.

“Some offers may seem too good to be true. We should not rush to double our money overnight. I believe we should learn from this experience and share it with our friends, family, and children.”

“I hope this serves as reassurance that the EFCC is working for you as Nigerians and also as a learning opportunity for you.”

Ukwu Ernest Ikechukwu, one of the victims, who received a bank draft of N19.9 million, praised the Commission for its professionalism and integrity in fulfilling its responsibilities.

Another beneficiary, Ikechukwu Ogbunubi, who received N10 million, commended the Commission for its relentless efforts in recovering the full amount.

Other recipients include Temple Lewis Maduka, who received N7.5 million, Ngwu A, who got N19.4 million, and Alphonsus Umeh, who received N7 million.