Mozegee:
You guys should shut up and face your problems. The same MBA you guys are crucifying have started paying since two days ago. Our Useless government are heartless,they do not want an average citizen to have a good life. They are the one furstrating this guy. Get your source before writing trash here. I invested in MBA ,I just got alert yesterday.

Congrats chief! What's your date for your ROI?

Truth234:


You are researching the foreign exchange market in the world's financial hub and the largest retail forex trading nation, the United Kingdom, and believed the bolded? How much is MBA daily turnover? Bigger than Dangote Cement, Nigeria's most capitalised company? MTN Nigeria, the second most capitalised company that CBN will restrict its payment?

So MBA meagre revenue is what will collapse Nigeria's most capitalised sector? Has MBAforex done over N500 billion turnover like Zenith Bank in three months? That is just one bank.

MBAforex is going the way of other Ponzi schemes. No business sustained 30 per cent monthly ROI. Even Dangote with all his successes didn't do that in the last two years.

The depth of gullibility is amazing

emmanuelewumi:



You dey mind the guy, paid agents to launder the image of Ponzi operators


I wonder why Nairaland didn't bring all these Ponzi threads the the front page, so that informed people will advise people about the dangers of Ponzis and other High Yield Investment Schemes

I am even shocked that someone studying and claiming to be doing research in the United Kingdom will believe the Central Bank of Nigeria is trying to protect the banking sector from capital outflow due to MBAforex activities. FUGAZ (FBNH, UBA, GT Bank, Access Bank and Zenith Bank) combined customer deposits is N14.1 trillion.

The same MBAforex that some people are saying they received payment two days ago, some even said yesterday. Selective payment. If CBN blocked/freezed an account there will be a public statement.

Feggie3:
You have shut down the offices but you will still be working to enable payment of ROI. Working from where? Maybe from your toilet. Maxwell is just confused and should be reprimanded now not later. Please give people back their capital and keep ur return of investment. .... Coming to think that I almost invested 2 million into this biz last month. Jeez!!

And that is how God saved you from losing your money

deflover:

WELL U HAVE A POIUNT BUT ME DEY CASH OUT NOW MY BEST IS STILL 2017 WEY I CASH OUT $24K NOW NA STEADY 1KEUROS I DEY COLLECT WEEKLY MONEY DON FINISH THIS WEEK LEKKI DEY CHOP MONEY OH BUT I DEY BRACE UP FOR NEXT YEAR WEN I GO DEY PICK 10K EUROS A MONTH OR MORE MAKE DEM DEY SEE FRAUD WE GO DEY CASH OUT
FX NA SURE MAGA AND I DON LOCK AM
SEE FIRST ALERT

lock am oooo, more wins over losses for u bro Lekki no b d faint hearted

ismail64:
MBAFOREX is finding it difficult to pay there investors this December, they promised to resume operation next year January, 2021.

Will this go same way of MMM. Why is December the termination period for some of the Ponzi scheme?

Find attached pictures of some Investors at their Port-Harcout Office Yesterday.

Lala, kindly help some new Investors from losing their money.

Food don done for the Future Forecasters lol. Now they will be like to the Investors......

boyjo:

Bros I believe you say na glitch. Abeg make una pay as you have done till now.

bros I no dey work for MBA

RealEzee:
lock am oooo, more wins over losses for u bro
Lekki no b d faint hearted

OMO I FIND HOUSE GO LEKKI.....I JUST DEY STAY HOTEL....DEY ENJOY....BUT MENH ...I REALLY WAN MOVE OUT ONCE I SEE BETTER HOUSE...OR I GO RETUEN TO ABUJA...
NEXT YEAR WILL BE GREATER.....

MAKE WE DEY LOCK FX....BESIDES NA ONLY GOLD I DEY TRADE NOW

PervertProphet:


Only you three Nairaland accounts: General, general111 and this one all using them to comment in a schizophrenic delusional way like a proud beneficiary of this Ponzi scheme called MBA. Who knows if you are one of the people who formed this scam to defraud gullible greedy Nigerians. This is becoming the norm every year due to the excessive poverty on ground.

Do all these your nonsensical lies and explanations of Banks holding the nonsense MBA from paying out "funds" make sense to you that is if you still have an iota of sense. As if we don't know it's all some Ponzi giving the usual forex tag(the newest trend since using crypto tag don cast small) and just basically robbing Peter to pay Paul.

are you saying conventional banks that trade forex are running Ponzi ni? Bros go and learn and stop spilling trash, don't sound like you just learnt the word Ponzi and start using it to label any business you don't understand, even top businesses experience times when they are unable to pay their shareholders/customers on time agreed that one no mean say na Ponzi kwa, Abeg shift Peter pan

SavageResponse:


On the contrary you're the one who has inferiority complex because you believe everything Elon Musk says just because his skin is white!

As far finance is concerned Elon Musk does not know more than me

typical response from an ignorant.

RealEzee:
are you saying conventional banks that trade forex are running Ponzi ni? Bros go and learn and stop spilling trash, don't sound like you just learnt the word Ponzi and start using it to label any business you don't understand, even top businesses experience times when they are unable to pay their shareholders/customers on time agreed that one no mean say na Ponzi kwa, Abeg shift Peter pan

Their books are open to investors, depositors, public, CBN and SEC and they don't make over 180% per annum as claimed by MBA and the total money made from forex trading is less than 15% of their total profit for the year

ChibeKs:

Though i didn't invest my money there. But that's not enough reason not to be patient as an investor or you start bad mouthing a business that have been paying its investors for more than 2 years. Besides some here still testify that they received their ROI for the month. So give the company time, they only said they are on break for Xmas

What u dont get is that it is impossible to pay 15 percent return per month, meaning 180 percent a year. IMPOSSIBLE. U THINK DANGOTE WOULDN'T DO IT IF IT WERE POSSIBLE

All the times they paid, they paid with money of new investors. THAT IS WHY IT IS PONZI SCHEME


This December, new people investing are smaller than old people who need to be paid. THAT IS WHY NOT ENOUGH MONEY TO PAY. THAT IS EHY THEY CANT PAY. THAT IS WHY THEY WILL COLLAPSE

NO LEGITIMATE BUSINESS THAT WILL PAY THAT AMOUNT OF 180 PERCENT RETURNS AND U DONT SEE DANGOTE ELUMELU, AND CO IN IT.

All mba investors, lick ur wound ls and move on. Next time qvoid ponzi schemes. If it sounds too good to be true, it is too good to be true.

If u must invest in ponzi, invest what u can afford to lose. I call it groundnut money. Invest ur groundnut or snack money. An amount u wont even notice if it were to fall off ur pocket or be stolen from ur room

i invested alot of money into this scheme...now nobody to talk to on how to recovered my money...i am losing my patience already

stevemagnus2020:
i invested alot of money into this scheme...now nobody to talk to on how to recovered my money...i am losing my patience already

You were advised to invest an amount you can afford to lose

RealEzee:
are you saying conventional banks that trade forex are running Ponzi ni? Bros go and learn and stop spilling trash, don't sound like you just learnt the word Ponzi and start using it to label any business you don't understand, even top businesses experience times when they are unable to pay their shareholders/customers on time agreed that one no mean say na Ponzi kwa, Abeg shift Peter pan

i am tired of responding to them...someone is calling forex ponzi scheme and he thinks he is wise..

sammhi:

You obviously don't knwo how the banks and financial system works
If 50% of those who have their money in a bank que up today to demand for all of their money , that bank would collapse . Their j strength lies on investors fund . GTB was not willing to pay innoson just 13bn instead teju said he should use it to buy shares
Let me educate you : if MBA has 30bn in the bank , the banks pays MBA interest on it
Now some of those funds would be held in USd and some in forex market to hold their position as a trader . They can easily pay ROI but not capital because most of the investors money are not held in liquid but in instruments .....
Same applies to even banks
At a point, MBA may have more money than what some of these banks have and that it is a big problem . Thats one reason they can't use one bank . In such a case they won't even be able to meet the Demand for ROI by MBA
Am not saying this is what happens but it can happen
MBA says 8 banks closed their accounts .....Probably for many reasons but surely if 8 banks should close MBA accounts , they would run into problem.

hope your money is not there?

Yes, just checked my mail and saw it.

MyGeneration:

U didn't receive the memo they have closed for d Christmas

ceejayluv:

Or the business model was designed to be Ponzi-like from the beginning.

while I cannot hold brief for the company, because I am not an insider, I want you to know that the forex market is very volatile, and when u invest in it u must know that there is the possibility of you losing your investment, even if your account is handled by an expert trader.

TheOgaBoss:
while I cannot hold brief for the company, because I am not an insider, I want you to know that the forex market is very volatile, and when u invest in it u must know that there is the possibility of you losing your investment, even if your account is handled by an expert trader.

I traded forex myself as far back as 2008 as a student, I Know the drill. That's why I'm surprised when people trade for others and assure fixed returns. Almost everyone I knew that did that either had to abscond when the money was lost or had a Ponzi plan right from beginning and therefore absconded at the appointed time.

ceejayluv:

I traded forex myself as far back as 2008 as a student, I Know the drill. That's why I'm surprised when people trade for others and assure fixed returns. Almost everyone I knew that did that either had to abscond when the money was lost or had a Ponzi plan right from beginning and therefore absconded at the appointed time.

gbam! You have hit the nail on the head. If indeed the company was trading forex, the investors ought to know that there is the possibility of losing their investments.

sammirano:


You people will just open mouth and say shit as if you know jack about finance. Firstly dangote group is not an investment company where its primary objective ts to make money for investors. I'm not justifying the promised returns of the scheme. but learn before you talk. Finance and investment is so complex that if you don't know it don't even think it.

As a rule of thumb, any investment giving you more than 16% per annum is suspect . . . 20% monthly (240% per annum) is obviously a ponzi scheme.

OJay360:
Even here in Nigeria, Bitcoin is legal.
There was a time when people use cowries to trade, if you tell them that one day paper will be the standard currency they wouldn't believe.
Bitcoin and crypto currency is the future

I dont have a problem with bitcoin but rather the speculation fuelling the bitcoin bubble. The soaring value of bitcoin is based on something called 'the greater fool' theory - assuming that by being the first fool to buy something at an outrageous price, there is always a bigger fool to buy at an even more outrageous price.

Bagehot:


As a rule of thumb, any investment giving you more than 16% per annum is suspect . . . 20% monthly (240% per annum) is obviously a ponzi scheme.

Hello. What's happening here? Who gave you that rule? Oga know what you say, I'm warning you again. Am a financial analyst.

Even benchmark investment managers using S&P 500 for instance will perform beyond expectation in a fin. Year.

SavageResponse:


Cryptocurrency is even the worst...in that one they will tell you you're buying an imaginary gold coin

Apart from that anyone can wake up and create his own crypto, 5years later you will hear that the owner died and he took the passwords with him

YOU ARE AS IGNORANT AS THOSE THAT LIKED YOUR COMMENT... GO GET KNOWLEDGE AND STOP EMBARRASSING YOURSELF

MyGeneration:
Forex trading is real, am doing a masters in the UK though not on forex, I personally took it upon myself to research on it from our library.

This year lots of forex companies were supposed to cash out because of happenings.

Almost every news that gets out has an effect on forex, if oil price rises or fall it has effect on forex, even corona had effect on forex, even endsars protest had effect on forex, even oyigbo issue had effect on forex. The issue here is from the federal government.

Since they are limiting payment by mba forex deliberately they are low key trying to save it in order to save banks from collapsing.

The government knows if banks collapse under their watch it would be a national disaster so they go for d vulnerable target MBA Forex

Could you shut up already

Hmmmm

RealEzee:
why can't u give up 30% kwa, why do u peeps keep making this weak argument, isn't it personal discretion to share a certain percentage on ROI, even 2% ROI dey fail too, there is no biggies about the ROI,conventional banks make tons but give a tinny fraction to its customers yet foul play isn't spotted there cos it's the norm, or do you want to say the banks don't make tons and also lose too in their trades with customers money?

MBA has been paying its customers steady and lots of them have been benefitting prior to this temporal glitch, yeah I call it temporal till we see what happens next, mind you perception equally can make or ruin a business regardless of authenticity.

30% monthly is 360% per annum; MBA Forex has to make around 500% to be minting that much for it's own clients. Can you smell the odour here? Smells familiar. . . ha yes! MMM.

afroxyz:


Stop blaming givernment and banks. MBA has not come out because they dont have anything to say. You say you are trading forex so where are the proceeds from your trades. Have you guys even asked for a quarterly report from MBA? Has MBA relased any financial report or guidance like a responsble financial institution would do? Even if you buy shares, you are entitled to periodic financial reports from the company. These are questions you guys should have asked but were carried away with an utopic profit

You are going too far.Is MBA registered and regulated by SEC as directed by the law?

Mozegee:
You guys should shut up and face your problems. The same MBA you guys are crucifying have started paying since two days ago. Our Useless government are heartless,they do not want an average citizen to have a good life. They are the one furstrating this guy. Get your source before writing trash here. I invested in MBA ,I just got alert yesterday.

j totally agree with what you said about the government

Most people here do not even know how the forex market operates.

I recently participated in an investment bank simulation and my results are attached:

If you all knew how the market operates, you will know why investment banks always make billions from this market and the retail traders just keep floundering. All I did to generate these results was to make the markets for premium clients, then offload them on retail brokers, who would in turn resell the positions to their retail clients.

You can NEVER beat the sell side participants. If your trades are not going in their direction, forget it.

Making such returns that MBA Forex was promising its clients as a retail trader is IMPOSSIBLE. Trust me, I know it from an insiders point of view.

Truthspoon1:
you're the definition of ignorance. You're a representative of the typical African. This is why blacks are backward.
Elon Musk uploaded this on Twitter recently but you're wiser than him aren't you? Bloke.

what did Elon musk update on Twitter?