Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,047 members, 7,814,592 topics. Date: Wednesday, 01 May 2024 at 03:46 PM

EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI - Investment (7) - Nairaland

Nairaland Forum / Nairaland / General / Investment / EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI (47143 Views)

Chinmark Crashes After Failing To Meet 19th March 2022 Deadline Payment / What Business Of 2M With Monthly ROI Of 10% / Make 20% Monthly Roi With Cooperative Society (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply) (Go Down)

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by samegold(m): 4:16pm On Oct 18, 2020
helinues:
angry

If you want to trade and make profit, trade against $ till their election in Nov
Bro its not like that ooh, there are many factors affecting price you can't bank on elections only, do you know what's called fundamental analysis?

2 Likes

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by vickydevoka(m): 4:24pm On Oct 18, 2020
danilho:


There are legit businesses that can give more than 35% monthly ROI

You need a have sound knowledge of the business and understand the scope of the business

100k grow to 177k in ten days, that is 77% profit in ten days, staking on tennis games. 7 days won and 3 days lost. I have evidence
U be mumu?

1 Like

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Rigel95(m): 4:30pm On Oct 18, 2020
Ogademo1:
DEMO ACCOUNT
That is a real account, that you didn't know shows you don't know much-(yet.)
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by danilho(m): 4:34pm On Oct 18, 2020
vickydevoka:

U be mumu?

Ode, You no get sense. Your own pass mumu. I have evidenc, I can show you the betlips and you can confirm the betslip.
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by vickydevoka(m): 4:36pm On Oct 18, 2020
danilho:


Ode, You no get sense. Your own pass mumu. I have evidenc, I can show you the betlips and you can confirm the betslip.
Na betting u de call investment abi? Continue!! Na village people get your mata

3 Likes

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Nobody: 4:38pm On Oct 18, 2020
Rigel95:

That is a real account, that you didn't know shows you don't know much-(yet.)
Edited DEMO ACCOUNT

1 Like

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by danilho(m): 4:57pm On Oct 18, 2020
vickydevoka:

Na betting u de call investment abi? Continue!! Na village people get your mata

When you understand how e dey work, village people go reason your mata but dey go tire because dem no fit get you. Betting business na multi billion biz, you just need to know how to collect your share.
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by vickydevoka(m): 5:05pm On Oct 18, 2020
danilho:


When you understand how e dey work, village people go reason your mata but dey go tire because dem no fit get you. Betting business na multi billion biz, you just need to know how to collect your share.
Kk. Make I no doubt you bro. Bcus e no work for me no mean say e no go work for you
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Barka00(m): 5:06pm On Oct 18, 2020
SaintUlot:


Consistent profit of 30% like that of mba forex right?

Yh
You can also make 100% profit in a day iv the market is in a good shape and if you're will to let go of your emotions and take the risk
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Temidayo698(m): 5:07pm On Oct 18, 2020
[[quote author=nairalee post=95057882]I'm about learning the ropes of forex trading. I dunno how profitable it is. 30% ROI assured? That's pretty cool if true [/quote

Forex is not a Scam it is legit.
It is possible to even make more than 35% ROI because there are different ways to it and different strategies to it.

Most importantly anyone that wants to be successful in Paper Assets (FOREX, Bonds, ETFS, Stock Trading, etc) must be ready to buy courses (which are usually expensive) from credible traders who will teach and then practice with your own fund on Live Trading by the time you master it fully you can then be able to build a business around it.

The problem with most of these guys out there is that they are yet to master the skill well before going out to get investors.
And these will happen often this year because covid19 has made people realize they need to run a business and also become an investor in other to protect themselves from financial uncertainty.

If you need guidance on how to detect a true hedge fund (financial investment) company from fake ones send me a message here https://www.facebook.com/temidayosamuel.mike
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by 99thEnemy(m): 5:17pm On Oct 18, 2020
Promotions:
Those Efcc guys are looking young and fresh...lots of scam everywhere




Aboki grin
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Rigel95(m): 5:18pm On Oct 18, 2020
Ogademo1:
Edited DEMO ACCOUNT
Oh great! What's your proof to know it's edited?
I'd like to learn
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Jentilia(f): 5:24pm On Oct 18, 2020
May jonah udogo of box value be nabbed too
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by danilho(m): 5:27pm On Oct 18, 2020
vickydevoka:

Kk. Make I no doubt you bro. Bcus e no work for me no mean say e no go work for you

Yes, na true e fit no work for you but e work for me and some other guys. Meanwhile in 2014, I try forex. I dey trade on etoro.com, I dey follow some traders, One from spain and the other one from Kenya. I loose money but e work for some other guys.

1 Like

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by vickydevoka(m): 5:34pm On Oct 18, 2020
danilho:


Yes, na true e fit no work for you but e work for me and some other guys. Meanwhile in 2014, I try forex. I dey trade on etoro.com, I dey follow some traders, One from spain and the other one from Kenya. I loose money but e work for some other guys.
Na so.
Forex worst pass gambling
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by multikolour(m): 5:39pm On Oct 18, 2020
sircrabo:
Even MBA forex and large hedge fund corporations don't give that much considering the risks involved. 15% - 20% max.

Oversabi traders that give forex a bad name
bros is this MBA trading legit because people have been asking me to invest in them for the past one year but I refused cos am scared
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Geovanni412(m): 5:50pm On Oct 18, 2020
Kobicove:
According to professional forex traders it's almost impossible to earn a return of more than 20% consistently

Very true. For a swing trader, profits of 2-20 percent in a month is feasible. 20 percent in a month consistently requires absolutely perfect trading. Best not to have aims like 20 percent monthly roi to avoid frustration and to just focus on trading well . After all, if you make 4 percent per month consistently then you are already making more profit than is generated in a year by investing in real estate but Nigerians are too greedy to listen to this.
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Lapex(m): 5:53pm On Oct 18, 2020
Please how can i report a site to EFCC i have sites to report
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Geovanni412(m): 5:54pm On Oct 18, 2020
multikolour:
bros is this MBA trading legit because people have been asking me to invest in them for the past one year but I refused cos am scared

MBA Forex has been labelled as an investment to avoid by SEC but I have friends that have been regularly paid by MBA Forex. My belief is that it is a Ponzi scheme that will pay you till the scheme fails at some point in the future. This does not constitute investment advice in any way and you are solely liable for what you choose to do with your money/ego/kudi.

1 Like

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by multikolour(m): 5:55pm On Oct 18, 2020
Geovanni412:


MBA Forex has been labelled as an investment to avoid by SEC but I have friends that have been regularly paid by MBA Forex. My belief is that it is a Ponzi scheme that will pay you till the scheme fails at some point in the future. This does not constitute investment advice in any way and you are solely liable for what you choose to do with your money/ego/kudi.
thank you
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Geovanni412(m): 5:58pm On Oct 18, 2020
Temidayo698:
[

I respect your view but libgen has a lot of resources. If someone has God's grace, time (2yrs) and patience, one can learn a lot about the Forex market. The person might or might not still need paid courses depending on their level of intelligence and grace.
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by joelala(m): 5:59pm On Oct 18, 2020
How can you promise 35% monthly when even fixed deposit in banks is 4.5% annually? i am an FX trader and i only give 5% monthly on your investment, and min you can invest with me is 2k$...if you don't want 5% alaye take your money to the banks and get your 4.5% annually. i don't like what i hate. FG treasury bills is even less than that, about less that 2% ROI annually.






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/

1 Like

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Mikolo1716: 6:03pm On Oct 18, 2020
I really pray God exposes Mr Bowofade Adewumi of BTD in Osun state wherever he is hiding, who also scammed over 8K investors 2billion naira after also failing to fulfil his forex ROI promise and has been on the run for about 2yrs now. I personally lost over 1M as an undergraduate then which has ruined and affected my plans to set up myself with the money immediately after graduating from the university.
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/
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Geovanni412(m): 6:03pm On Oct 18, 2020
joelala:
How can you promise 35% monthly when even fixed deposit in banks is 4.5% annually? i am an FX trader and i only give 5% monthly on your investment, and min you can invest with me is 2k$...if you don't want 5% alaye take your money to the banks and get your 4.5% annually. i don't like what i hate. FG treasury bills is even less than that, about less that 2% ROI annually.


Bros, you dey generous sef. If na me, I no go pass 2 percent max. You fit japa if you no like am.



Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by maiquel: 6:07pm On Oct 18, 2020
[s][/s]
Oluwahelpme:
It is even impossible to earn more than 10% in a month. But greedy Nigerians will not listen. Nigerians will keep falling for Ponzi schemes due to their greed.
[s][/s]

1 Like

Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Geovanni412(m): 6:10pm On Oct 18, 2020
Barka00:


Yh
You can also make 100% profit in a day iv the market is in a good shape and if you're will to let go of your emotions and take the risk


That one na bad risk mgmt. How do you handle your emotions as the trade is going against you? What if the trade fails? Sha, you must be very experienced to play that kind of gamble in FX when you are using leverage.
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by nsilordgmail(m): 6:10pm On Oct 18, 2020
sircrabo:
Even MBA forex and large hedge fund corporations don't give that much considering the risks involved. 15% - 20% max.

Oversabi traders that give forex a bad name
bros I have been hearing of this MBA, how legit are they?
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by nsilordgmail(m): 6:16pm On Oct 18, 2020
guru90:


Forex is not scam at all....

The simple ideology behind forex trading, if you don't know how to trade in forex, Your money will banish and vanish within a second.

Note: If you don't know how to trade, kindly meet a genuine and truthful forex trade company to trade for u. For me: I have already attached myself for one Forex trading experts so that they will be trading for me.
which one be that bro
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Nobody: 6:16pm On Oct 18, 2020
Rigel95:

Oh great! What's your proof to know it's edited?
I'd like to learn
it's obvious, you don't need proofs to know. It's demo account.
Re: EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI by Geovanni412(m): 6:22pm On Oct 18, 2020
Sunnyb104:
I do not believe the popular saying "98% of retail traders fail", and also that one cannot make consistent profit(s) of about 15-30% monthly. What I see is a lack of adequate knowledge/training about the financial markets. Big banks and hedge funds are into it, are we going to say they are into scams.
It is on record that more than Eight hundred thousand(800,000) Japanese youth trade Forex even Housewives, the Banks declare quarterly profits in billions of naira trading the markets and this banks are made up of Nigerians like you and I, if anyone could be privileged to learn and master this skill from them(Bank traders), or professional in the field, s/he will make a killing.
In Africa, there are lots of successful South African traders, the likes of sendeli, Van der Riet, Jeff Wayne etc. And recently Fx goats, Lesiba Muthupi... If these people can become successful with a YouTube channel of over 52k subscribers teaching forex, then there are many successful hidden traders in Nigeria but if anyone believes that no Nigerian is profitable, then we should ask the question, what knowledge do South African traders have that Nigerians lack?.

You can make profit on Forex but it is like looking for a needle in a haystack if you are looking for a sincere trader that will give you 20 percent roi per month. 20 percent roi in a year is more feasible. Honest people that are consistent in trading realise the difficulty and uncertainty of profit margins and so will not offer too much roi to their clients so that they are not under extreme pressure. The rule is to underpromise and overdeliver.

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply)

Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover / FG Goes After MMM, Ultimate Cycler, Other Ponzi Schemes / EFCC Declares Miebi Bribena Of Baraza Ponzi Scheme & Wife Wanted For N2b Fraud

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 72
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.