₦airaland Forum

AlwaysMotun:
No, it's not scam! I am a forx trader and I don't target more than 5% in a month! People who think they can make some lucrative percentage out of it are the scammers!

A professional Forex trader will not look at more than 20% in a year but we Nigerians want to do 30,35% in a month... Lol... MMM don spoil our sense of Investment and Business Charisma!

prof2007:
A foreign exchange (forex) trader based in Kano State, Mr Abubakar Ibrahim, has landed in a bowl of hot soup over his failure to keep to his words. Mr Ibrahim had promised to deliver a 30-35% monthly return on investment (ROI) to an investor, who eventually gave him N7.6 million for a try.

It was gathered that the money was given to the suspect through one of his agents, Mr Umar Kabir, and after the investment, the 30 to 35% ROI was never delivered as promised. This prompted the investor to approach the Economic and Financial Crimes Commission (EFCC) to help him recover his hard-earned money.

According to the EFCC, which arraigned Mr Ibrahim before Justice Lewis Allagoa of the Federal High Court, sitting in Kano, on Friday, October 16, 2020, on a five-count charge of money laundering, the suspect allegedly engaged in forex trading through his Flexus Global Investment without duly registering with SCUML (acronym for Special Control Unit Against Money Laundering, issued by the EFCC).

SCUML was established by the federal government in September 2005 as part of measures for implementation of the Financial Action Task Force (FATF) Recommendations on Anti- Money Laundering/Combating the Financing. It is charged with responsibility of monitoring, supervising and regulating activities of Designated Non-Financial Institutions (DNFIs).

At the court, the EFCC informed the judge that efforts to make the suspect refund the sum invested to the complainant were futile and when the charges were read to him, he pleaded “not guilty.”

“That you, Abubakar Ibrahim (being the Managing Director of Flexus Global Investment Ltd) while acting in such capacity, sometimes in 2019 in Kano, Kano State within the jurisdiction of this court, did fail to declare the existence of your company with Special Control Unit Against Money Laundry (SCUML) before commencing business under the name Flexus Global Investment Limited and thereby committed an offence contrary to Section 5(1) (a) (i) and punishable under Section 5(6) (a) & (b) of Money Laundering (Prohibition) Act, 2011 (As Amended),” one of the counts read.

In view of his plea, the prosecution counsel, Mr Michael Ojo, asked the court for a date to commence trial and that the accused person be remanded in the custody of the Nigerian Correctional Service. However, the defence counsel, H.A Hamza, urged the court to admit the defendant to bail. This bail application was granted by Justice Allagoa in the sum of N50 million with one surety in like sum.

The surety must be the owner of a landed property within Kano metropolis, which shall be verified by the registry of the court, the judge held and adjourned the case to November 19, 2020, for trial.

SOURCE: https://businesspost.ng/economy/efcc-nabs-forex-trader-for-failing-to-fulfil-35-monthly-roi-promise/amp/

muller101:
I am only stating the obvious.

Danny50:
Nonsense so you want to go and finish your parent money in school abi.. You guys should just tell me you are missing your girlfriends/boyfriends and your lie lie demand. Pls ASUU continue because i dont have money for that stupid boy now.

muller101:
It's non of your business I can see you are one of their kind.

muller101:
By 2023 they will all go and beg for crumbs from one old politician. Youths who can't track back to history, only active on what is trending at that moment.

Hotzone:
Nigerians can travel extra distance to ensure that this sars matter is over stretched not minding the effects of this unverified hateful accusations and social media sentimental judgement without considering that there may be a time this so called Nwafor’s commitments in fighting crime yields positively to reduce the crime rate in the state and may be one of the reasons his head is being demanded at the platter. We should be care because through this protest demand, already known convicted armed robbers, rapist and child traffickers may maneuver their way out of prison and the society has already lost interest in their police. Let’s use love and response matured in order to find a lasting or better Nigeria

8y88y8:
After ENDSARS let's join hands and #ENDXVIDEOS

FuckThaMod:

Antoeni:
Robbers , Yahoo Boys, Thugs and Hoodlums have taken over the Protest

Ebenezar2021:
go and sleep, it's almost 2am, stop frauding foreigners of their hard earned cash..
Yahoo criminal

loveth360:
This morning, protesters in ph were beaten and the army college their camera.
The boy asin him ask him officers is it a sim to protest?
People was run,everybody was run i was run. Tire gas everywhere the rice they say they wee give us
protesters, i no see. My eyes
tire gas tire gas. It itn't easy
2day.
Thank God I come back
aliveness.



#endsarz

abbey621:
I swear most Nairalanders are slowpokes! Women have been asking guys out since the time of Adam & Eve. Y'all focusing on words rather than action. A girl winks at you, a girl goes out of her way to make sure you noticed her, she keeps asking her friends and your friends about you. She enjoys your company, she glows up anytime she sees you. These and more are ways women ask guys out nowadays, whether it is in real life or DMs on social media, girls don upgrade, sit down there dey wait for words