₦airaland Forum

airsaylongcom:
Lol! There you go! I knew you were going to read meanings into it hence the careful wording and eventual retraction. I have NEVER said that SEC came to inspect MBA computers. NEVER

Forgive me, but my recollection is that you've stated this more than once on this thread.

To whom then did you give unfettered access (those are the words you used) to your computers?

Good day.

Osama10:
I really don't understand why some people are so bitter here.

If someone has decided to invest his hard earned money in any form of business, he must have done his due diligence before investing.

Please all those doubting thomases should let the investors be, it is not your money that would get lost, why the worries & bitterness here?

No one is bitter. If you have invested and had the opportunity to do due diligence - good on you. This means you had access to information about the pros and cons, and decided to invest.

So, why deny the others access to information that doesn't parrot the usual ROI Testimonies here?

#NoBeYourNairaland

And, having invested, why are you bothered others are providing information it is a Ponzi Scheme? Unless you invested knowing it is a Ponzi Scheme. That's your problem, not mine to be honest.

Don't be concerned as we warn others ... DO NOT INVEST. Not especially with the runes aligning so.

airsaylongcom:
Original comment edited

@airsaylongcom, the anti-spam bot hair trigger got me before replying to this message originally addressed to me but I see you're retracting statements that the SEC came to inspect MBA Forex Computers.

That was patently false information and I have confirmed it. Moreover the SEC Inspectorate only deals with operators which are registered and we know MBA is not registered.

I can understand the loudmouths stooping pretty low and staying low lol, but I somehow don't expect you to put your reputation on the line to peddle such information.

If some people indeed showed up claiming to be from the SEC, you're probably a victim of another of your employer's Confidence Tricks (https://en.wikipedia.org/wiki/Confidence_trick).

Eyes open, I'm sure you can spot a lot more by the day, as this thing heads for a crash and burn.

Good day.

50nizzy:
I believe it is safe to say now that MBA is competing favorably with these banks for Funds. More people are no longer going to banks to save money but rather choose a high risk platform like MBA to Save and Increase their Funds.

You and I are classic examples

Nonetheless, the negative activities of other competitors cannot be ruled out.

This is classic nonsense. Who believes this kind of stuff? And why?

Unless MBA Forex operates a vault of its own as well as managing a Ponzi scheme, Banks love anything that increase money turnover through their systems.

All money is kept within the banking system.

As you people are transferring 'investments' up and down, and ROIs moving between accounts, the banks are collecting plenty fees.

It's a goldmine for them lol.

Advision:
You again aka Newdelhi? I promised not to respond, I'll keep my word.

Please ignore. Sometimes you recognize insanity and give it a wide berth. Man's still looking for red oil and vulture eggs, lol ...

DrAkpa:
Anyway, let me make it clear to these anti-mba miscreants, if you do not respect yourself and desist going forward from posting doomsday comments on mba, I will not just curse the 3 of you, I will stand naked at a junction on 12 midnight on any day when there is a red moon to curse the 3 of you with calabash of red oil palm oil and 3 vulture eggs and cast a generational spell on you lots.
This is not a joke, nor a threat. So do not dare me.

Greenvaiper aka Akpaamunsi na nkpi [/b]

EgunMogaji2:
Thank you Sir.

This was the alternate.

I think, as a collective of professionals and educated amateurs here, we should still provide real ideas on how to make these anti-burglary systems firesafe (ie, provide escape routes) while providing the required security.

There have been hints here and there but no concrete projects shared publicly as far as I'm aware.

It's a public service which could save lives.

DragonFire433:
You are wrong once again.

MBA is a Successful Forex trading company and they are not playing by any Ponzi playbook.

Since the release of the SEC statement 9 months ago, no meaningful actions from them because they have nothing against MBA.

But you fail to point out that Fact.

Wot, no abuse? ... See, you can engage in discussion like a reasonable person without throwing insults.

Great. I'll engage (but do feel free to disagree - without abuse lol).

SEC does not automatically intiate enforcement actions against all known Ponzi Schemes because they would spend all their resources doing this. Also, and frankly, the penalties under current law are ludicrous (3 years imprisonment plus N1m fine!). The bigger stick is the freezing of bank accounts and attempted redistribution of any remaining monies.

They have not successfully done this to date because, believe it nor not, the database of 'investors' is not always reliable and verifiable. These Ponzi sponsors are very clever to 'seed' their databases with acolyte and associates, to the detriment of real investors (or 'victims').

It's a mess.

However, as happened in the case of Dantata Success (https://punchng.com/fg-arraigns-dantata-success-promoters-over-n2bn-fraud/), a series of trigger events can lead to enforcement. In the case of MBA Forex, when missed ROI complaints grow louder and more frequent, someone or some people can formally make complaints. By then though, the die is already cast and the Sponsors have pocketed most of the proceeds.

Like I said, a right mess. The Nigerian regulatory system is failing uninformed investors big time but we know this incompetence permeates every facet of our society.

I'd like to ask you also - why MBA Forex has not seen fit to challenge the SEC publication legally (and therefore have to prove it is not a Ponzi Scheme)?

Good day.

BillyInvestor:

From your observation do you think MBA playing by this rules?

Absolutely.

eddieo:
Tell me about this investment. Thanks

Not an 'investment' per se. It is a Ponzi Scheme.

1. Read the FAQ at ... https://www.sec.gov/fast-answers/answersponzihtm.html

2. There are official warnings specifically about it from the SEC (regulator) here in Nigeria ... https://sec.gov.ng/activities-of-unlawful-market-operators/

3. It is displaying all the characteristics of a Ponzi scheme fast running out of money from new 'victims' to pay all its commitments

4. Note the recent 'strategic corporate realignment' (ie, sold to a 'no-mark' Travel Company) which is another classic sign of 'arranging the deckchairs on the Titanic' so to speak.

Finally, read through this thread and hold the ROI Testimonies objectively against the information provided above. Best to ignore the abusive loudmouths who add nothing to the conversation.

Hopefully, you will decide not to invest but good luck nonetheless.

Good day.

Ponzi Scheme Calculator
This calculator determines how long it will take a Ponzi Scheme to collapse given various inputs.

https://securitiesanalytics.com/423/ponzicalculator

Excellent simulation tool. Quite self explanatory.

Most Ponzi sponsors run these sort of simulations to predict when to disappear (or sell to a Travel Company) so why shouldn’t you?

My Pavlovian dogs will thank me in the usual manner lol.

Good night.

DrAkpa:
Anyway, let me make it clear to these anti-mba miscreants, if you do not respect yourself and desist going forward from posting doomsday comments on mba, I will not just curse the 3 of you, I will stand naked at a junction on 12 midnight on any day when there is a red moon to curse the 3 of you with calabash of red oil palm oil and 3 eggs and cast a generational spell on you lots.
This is not a joke, nor a threat. So do not dare me.

Greenvaiper aka Akpaamunsi na nkpi

I make it a point to ignore much of the nonsense here but credit for the entertainment factor lol. You sure got my attention lol.

Many of your 'co-cursers' have only ended up making public fools of themselves. When this scam crashes, they will hurriedly delete the posts, change identities before slinking off to the next Ponzi scheme under another guise. Your madness takes the biscuit though.

Please send a selfie of you standing naked at the junction with the red oil (I will even buy it for you), if the vigilantes don't arrest you for mental incapacitation first that is.

Honest, thanks for the laughs.

Jeez.

Professional Ponzi investors do this for a living. They jump from Ponzi to Ponzi and rely on their tactics of obfuscation, coarse abuse and diversion to try to censor any information that might discourage less informed 'victims'.

Of course, Ponzi schemes do pay for a while. That's what they do - take money from the new, to pay the old. ROI testimonies are important for the scheme to continue and everyone is encouraged to publish these. Potential 'victims' is the goal of any Ponzi scheme. The Ponzi hunters just want to make a return and jump to the next Ponzi. They care less about the tales of destruction, death, family breakdowns, suicides left behind for the unfortunate victims when these things crash.

If you are not one of these Ponzi hunters and thinking of where to invest, at least do some basic due diligence. Your education demands it. Start with the various SEC warnings ... https://sec.gov.ng/activities-of-unlawful-market-operators/

Then perhaps ask why MBA Forex has just been taken over by a company worth only N500 as at their last set of accounts ... https://find-and-update.company-information.service.gov.uk/company/11349769/filing-history

A real investment company making 180% returns would be attractive to the best financial institutions and hedge funds in the world.

There's so much stuff out there - a lot of life in this Dodo yet. DYOR and hopefully ...Swerve.

Like I said, interesting times ahead.

Good day all.

kevinash69:
it's still doesn't justify why lots of delays even as long as 3 weeks. Take a stroll to there office and see the complain rolling in batches. Yesterday at their office wasn't funny. Lots of heated arguments almost resulting to fight. Some are own for two months. If you have an account with a Bank along the line you are been treated in a silly way you call them out definitely. Honestly the new MBA system isn't nice. Lots of complain since August. Am due for payment next week. Yet I haven't received that of last month.. let's be honest to ourselves..

Online ... ROI Testimonies Yay!
Real life ... wahala, fights.

This happens all the time when Ponzi schemes are on a downward spiral. It's nothing new.

Potential 'victims' ... You'd be a fool to jump in now. Grab some popcorn instead, interesting times ahead.

DO NOT INVEST

Good day.

Is there a Nairaland award for 'Mentions' lol?

When this Nizzy guy is finally led off in his straitjacket, he'll be mumbling "Jabolo, Jabolo, Jabolo"...

Sorry, I didn't mean to get into his head so.

Anyway, this MBA forex ponzi is consuming itself, as we predicted to warn potential 'victims' off.

Good Day.

kavey10:
This is all shades of wrong. Just imagine how crude and disrespectful you sound! You should be ashamed of yourself.

@kavey10, I take it you've not taken the time to read this thread.

That there is extremely mild stuff lol.

idiopathic:
We are seeing a Ponzi scheme on its last breath.

The playbook has been played out many times before...

It's Dog-eat-Dog and friendly fire all round. Everyone is tense and snappy.

What makes them think this MBA ponzi will be any different?

So, if you still thinking of joining, you must be out of your mind, seeing all the craze going on lol.

Ok, ok, we'll just say... DO NOT INVEST.

Good day.

SurveyorGeo:
Yes sir, we can handle it, for more discussion please call or chart 08069018449

.

Will do thanks.

firstworld:
What is happening is what I had anticipated a long time ago. Its not news that MBA had stepped on a lot of toes in the banking and financial circles and I expected a shutdown by those evil people in EFCC/SEC/CBN months before now. What MBA has done is simply to move faster than them and make it operations international and immune to their bad blood. We are totally in support and would keep praying for the company. Long live MBA! Long live WCEP!!

Jeez. Cmon people. I know your well-being depends on this MBA Ponzi but do not donate your brains to other people. Don’t be like sheep. Think for yourself.

Your ROI is paid from what account henceforth? A foreign account? Which account can CBN, SEC, EFCC not reach in the Nigerian banking system.

Anyway, good luck y’all. You’ll need it. Entirely predictable though.

As for my audience, people still considering this, need I say ... DO NOT INVEST.

Good weekend all.

shalomblue:
Red flags, even when ignored, do not go away.
They laid off staff some months back, now they have been acquired by a travel and real estate agency
The government should do more than warn citizens against ponzi schemes. They must be stopped from operating.

As our National Pledge goes... "I pledge to Nigeria my country..." to do what I can within the ambit of law to hold these people to account no matter how sophisticated the scam they may be planning.

There are many many tools to bust scams in the UK.

Sadly, don't think I can help the folks in Nigeria much when this goes down.

Etranshub:
you are always welcome sir

Website, website, website...

Publicize this thing.

You have no idea what a gold mine you are sitting on Chief.

Lazyyouth4u:
By the way, that link is not for Heritage Bank Nigeria.

Apologies ... https://www.hbng.com/investor-relations/

Lazyyouth4u:
Oga, any company that is not publicly listed is not obligated to share its financials with the members of the public on the pages of newspapers. Of course they must share with regulators but other than the regulators, they are only obligated to share with their shareholders. Key word ‘obligated’.

The key question people should be asking is who regulates these guys and what are the regulators saying. Instead of asking the guys for their financial statements and other documents, you should be asking questions from the CBN, SEC or whoever is regulating them. The regulators should be monitoring and auditing their activities and financials.

We are on the same page. MBA Forex is not regulated by anyone because it chooses not to register with the SEC even though it is handling collective investments. So its accounts are effectively hidden * from everybody - regulators or the public. Which is why potential investor anyone should run far away from them.

Sorry, I forget what your original point was, seeing you agree that having accounts are important.


* I don't actually believe they actually prepare any accounts as required by CAMA. The business horizon is relatively short-term as with any Ponzi scheme and it will fold at the earliest opportunity.

Lazyyouth4u:
Oga, have you ever seen the audited reports of Jaiz Bank and Providus Bank in the newspapers? What about Heritage Bank? Don’t they receive deposits and funds from the members of the public? Why don’t you go to them to demand their audited reports and see if security men no go throw you out inside dirty smelling gutter? Zenith Bank is a publicly listed company and that is why it must publish its annual reports for the members of the public. Privately held banks must file their reports to the regulators but not to the members of the public.

Quit lying ...
Jaiz Bank: https://jaizbankplc.com/investor-relations/annual-report-and-accounts/
Heritage Bank: http://www.hf-wa.com/FinancialDocs
Providus Bank: https://www.providusbank.com/annual_reports_financial_statement

Besides being a requirement of SEC registration (which MBA Forex has avoided), how can you begin to ask the investing public to trust you with their funds when you keep your financials hidden? Makes no sense except you want a license to loot.

Lazyyouth4u:
For your info, I have never invested in any forex scheme and will never invest in them as I do not believe in forex trading as an investment. So don’t even come at me with that crap.

You certainly vent like one of the MBA Forex adherents.

SurveyorGeo:
Thank you for the recommendation sir

Do you do (or do you have recommendations for) topographical surveys? Theoretically for a large piece of land with some rocky formations and undulations? Also in the FCT area, not Lagos?

Any credible youtube links to his music please? It's a shame we didn't know more of him across the regional divide.

RIP to an icon and we wish good counsel his family.

Advision:
@jabolo

It's not worth it, allow them be.

Thanks Chief but ‘they’ are not really my audience. As they’re invested deep into this Ponzi scheme, their anxiety is understandable. The rants of those that choose to scrape the barrel of human behaviour are similarly inconsequential lol.

Ok, I’ll admit they energized me from what was a position of mere passing interest, the rants that is. This thing is really insidious.

So, It’s crucial to prevent this being a single-sided story of ROI testimonies so people considering it can make their decision, hopefully to swerve and It’s heartening this is happening.

So, it’s all good.

tope777:
My prayer is simple:
-Whoever pray for MBA downfall will never progress in whatsoever they do in this life.
Proverb 24:20.
Matthew 27:3-5.

-For those looking for money to invest, may the good Lord enrich your Pocket.
Philippians 4:19-20.
Isaiah 43:18-19.

-For those already invested their money, your ROI will never stop.
Genesis 26:12-14.
Psalm 1:3.
.

Lol at the hypocrisy displayed here. Let's try:

For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.
1 Timothy 6:10

Keep your life free from love of money, and be content with what you have, for he has said, “I will never leave you nor forsake you.”
Hebrews 13:5


And, here's one for those that have grown fat on ROIs. After this thing crashes, with the poor market women and okada riders beseeching the empty offices asking for answers and assistance ...

Whoever oppresses the poor to increase his own wealth, or gives to the rich, will only come to poverty.
Proverbs 22:16

Ok, good day.

ahiboilandgas:
The longer it stayed the more Dangerous it become .....cos the pyramid base will be bigger and the collapse will be an earth quack ..but as dey say it there money .....

Unfortunately the main caliber of victims in this MBA case would not be the online warriors and savvy ponzi-hunters you find on this platform. It would be the relatively uneducated okada riders and market women attracted to their shiny offices they are opening in key commercial centers. Those with the most to lose but with very little knowledge of what they are getting into.

It is a business model conceived on very evil intentions when you think of it and there will be hell to pay on the day of reckoning. I'd hate to be a landlord of one of their buildings right now.