₦airaland Forum

DragonFire442:
You better relax your mind oo

All this your attack and critical analysis about anything MBA says or do, would not give you back your money. You are now attacking the same MBA fingers that have put honey in your mouth before.

You have recovered your capital and you are behaving like this ? How do you expect the new Investors to behave ?

Maybe you think your are smarter than them or your Investment is more than theirs.

From your reactions in the last few days, you sound like someone that took loan to invest in MBA........ that is bad enough.

Only MBA delay you small and you are filing lawsuits on Nairaland, what if your other high risk investment now delay you like MBA ?

That time you would carry Court to Nairaland.

Maybe you are thinking they would not delay you like MBA but you may be disappointed soon.

Behave like an Investor that is ready to face whatever consequences and stop this your conspiracy theories against what has been a blessing to you.

People like you don't need any response because the response I gave was to an MBA staff who made certain postulations in his right. FYI what I have with MBA is purely a business transaction which is supposed to be mutually beneficial to both parties. So I don't look at MBA as doing me a favour the way you and most others on this Forum take it.

WIZGUY69:
We will get paid next year.
What’s your ROI date?

Mine is Nov 3rd. Was at Lekki branch yesterday and they told I would be paid that yesterday as they had paid most of Nov 3rd and they eould be done paying 3rd that yesterday. When I returned there today that I wasn't paid, the story changed to "definitely before end of the week". It has been one story or the other since Nov 4th till date.

airsaylongcom:
So let me tell you some of the challenges. Incorrect email addresses. Incorrect/incomplete phone numbers. So after migration how do you contact customers to share their login details? I have not said that MBA is trying to push people to the online platform. But challenges like data integrity makes that migration not so flawless. I've done some email blasts to our customer base with a considerably high failed mails because of incorrect email addresses.

I agree that some accounts may have data integrity issues. What about those that do not have such like mince. i have exchanged emails and calls with MBA so why those accouts with good data integrity not migrated. MBA has not informed their customers of any plan or reason to migrate them to your online platform. If indeed MBA wants to do this, at worst you use your various channels including social media to reach out to all customers. They come to the office and update their contracts required for migration.

firstworld:
You claim to have 3 accounts paying you 750k each with MBA and you join these nonentities to run down MBA? Na u sabi sha

I am not running down MBA. This forum is meant for information sharing. So I state it the way I see and know it. I can't defend a lie. When they were paying (albeit not as timely as addy) I testified to that on this thread. So, when I see a potential fraud being played out I won't deceive myself and pretend all is well. For instance in the last 4 days I tried to find out what was going on about the delays in paying from someone I knew who used to work there. The person told me it was the banks frustrating them by reporting them to CBN such that they had to close their accounts and are now working to open more accounts with other banks. This CBN story was corroborated yesternight by an ex colleague of mine who is related to some staff of MBA. My point is why can't MBA transfer the funds from banks where they have issues to UBA (Eliozu branch) and Unity (Lekki branch) for example where they are still depositing new investors funds and pay those "offline" investors. I saw new investors still signing up at Eliozu and Lekki which means these UBA and Unity accounts are alive. Also why don't tell investors this CBN i/deposit bank issue angle (if truly is the reason for the payment delay) instead of the "transition" and "offline investor" stories that are being spurned

ifeanyija:
Mrs Vodina West, Director Nigeria, WCEP and Director International Investment visits our Lekki Office.
We are already excited about the "New MBA" . . . Unveiling Soon
#mbacares
#mbatrulycares

Congratulations!!!

delawal:
out of millions of people waiting for their roi, they will select few and pay to create d impression DT they re still paying so DT more uninformed people will join d scam. d earlier u know this d beta. schemes like this has similar mode of operation

You perfectly got the game MBA is playing. MBA agents and their ogas are here. So they work to deflate negative opinions raised. When I commented that they were paying only small amounts, they reacted by paying one of their own the N750k so thst tge screenshot can be displayed here. And the other lie being peddled is that everything is rosy with online investors. That's why they showed the FB screenshot. For discerning ones like us, we can see through the smokescreen.

legacystore:
MBA is telling every investor to terminate and migrate to online platform. Check out their message on Facebook.

This is not a good message coming from MBA, they don't need to rub it on our face that we made the wrong choice investing offline

We are all investors and we never knew the fate that awaits offline investors

It is all part of the game to show all is well. Banks migrate customers seamlessly without any fuss. What does it take to migrate your existing customers to their "online platform"

Godownforever11:
it is very funny that some people said MBA forex is paying small money.... It seem because i posted just my screen shot yesterday... here is my wife Roi and also mine that will received yesterday... I also have several portfolio investment with them and other forex companies.... It is always good to take risk, It's risk i took that made me who i am today and i am grateful to God for giving me the sight... you can't get what you can't see about yourself.. If you don't see anything about your life then you can't achieve it... it is what you see about yourself that is what you will achieve...


SUCCESS COMES WITH A SELF DECISION... MAKE YOUR DREAMS COME TRUE AND BELIEVE IN WHAT YOU GO FOR...

WHAT DRIVES YOUR DECISIONS DEPEND ON YOU AND YOUR DESTINY IS IN YOUR HANDS.. TO BE SUCCESSFUL, YOU HAVE TO MAKE A CHOICE.. CHOOSE YOURS WISELY...

SUCCESS IS NOT FOR THE FAINT HEARTED.. IT IS FOR THE BRAVE MIND.... THAT IS WHY NOT EVERYONE WILL BE SUCCESSFUL NO MATTER IF THE OPPORTUNITY IS FRONT OF THEM.

DON'T WORK HARD, WORK SMART...

Congratulations

RedScorpion:
You that have manners, why don’t you use it.

You have recovered your initial capital from MBA and you are still making noise.

What about those that have not recovered their capital before this transition started. They are not even behaving like the Big Fool you are.

You expect new Investors to be encouraging you old cargo. That is a sign that you are a demented gorilla rejected by Yaba Left.

Terminate your contract and get lost from here. Don’t share your testimony here again because you are not worthy to be an MBA Investor.

No wahala. Each one gives what he has. Are you an investor or an MBA agent because of the way you go about attacking me. Any investor should be concerned about what is going on.

RedScorpion:
Didn’t you see the alert of more than 600k

Respect yourself here oo. You fainted hearted Buffalo.

You better go and terminate your useless contracts because after all this is over, I don’t want to see your testimony here again because you are a BIG FOOL .

Sister, why did you have to start insulting me? My comment was to MBAy and not even the person that posted the alert, yet you chose to do this. It is quite unfortunate that you lack manners.

bbfanboy01:
THIS FROM.MAXWELL HIMSELF ALSO. PLS DISREGARD ALL THIS PPLE WHO COME HERE TO CAUSE PANICK . I BELIEVE EVERYTHING WILL RETURN TO NORMAL & EVEN BETA BY GODS GRACE.

Continue believing this. I will remind you of this post by Jan 2021

Trayceey:
A good explanation you might need

It is all part of the game. Keep watching

damosade:
To all genuine investors, none of the MBA account is frozen. I Confirmed it myself also from friends at other banks.

Keeep your mind at rest

Which banks are those? It is only UBA bank they ask investors at Eliozu branch to use for deposits now.

habakukjss3:
Congrats...
What's ur location

MBA is smart by picking to pay investors with low ROI to give the impression that they are still paying.

vanhelsing1:
I completely kw that MBA forex have been faithful....they have always paid their customers...but recently there have been delays of wch am still expecting ma return on investment...
Pleas.....wat could be the cause of the delay so we will feel safe and settled......?
Thanks

It appears the CEO has diverted the funds into other businesses including using WCEP to launder investors funds while obtaining second citizenship. He now brought the gimmick of transition issuea due to WCEP acquisition of 90% of MBA and MBA acquiring WCEP Africa. If tou are like me, you will take fast legal action to recover your funds and due ROI. Was at the Eliozu branch today. Almost 40 investors had same complaints of non payment as at 1 pm. As at yesterday the posted on the Facebook that delay would now be 14 to 21 days instead of 7 to 14 days. I also gathered fron someone I know who used to work there that they have issues with the banks as the banks reported them to CBN. Now they are working on opening account with other banks and SEC registration.

Silverpurple:
Arguably the two most fraudulent industries in Nigeria are travel agency and forex trading. I can't count people that have been scammed for VISA and ticket issues or people that have lost their life savings in Forex.

The strange part is that MBA forex is associated with these two "dangerous" industries. Wahala...

The fact about WCEP is that it was a company firmed formed just 2 years ago with no business done from 2018 till May 2019 (zero income) according to their annual filling. All of a sudden they acquired 90% of MBA. And MBA acquiring 50% of WCEP. I see it as ploy for Maxwell Odum to launder MBA investment funds and take off.

damosade:
To all genuine investors, none of the MBA account is frozen. I Confirmed it myself also from friends at other banks.

Keeep your mind at rest

They may soon be if investors start taking legal actions on the grounds that MBA is fraudulent in its activities.

tempest12:
I have terminated mine too at Aba Branch, it's been 22days delay now for my first ROI, I told my account officer that I don't care about the ROI anymore, the MOU have been breached, they should process my termination and return my capital ASAP. But she is insisting that I'm still entitled for last month ROI which I don't give a damn anymore..

No. You should give a damn about your ROI. You must collect it along with any other one that is due plus your Capital. It is your money. You may have to take a legal redress.

chordben:
Don't loose hope my dear.
My brother had his due date as 3rd, and he got his ROI on 14th. Meaning, it will not get up to that 21 days, I believe they asked for that number of days for them not to fail you.
Thanks.

My own due date is Nov 3rd, Nov 4th and Nov 9th.None don drop.

habakukjss3:
This is pathetic...
For how long Would they keep toying with people's finance/emotions?

If after this ...They increase the ROI payment date again..

I wouldn't stop anyone from going for litigation..

People have to see the handwriting on the wall. Since I watched the video of the CEO last week, I knew he was up to something.

tempest12:
MBA just increase delay ROI from 7- 14days to 14 - 21days now... This is a very bad sign cos just few days ago they said it's 14day max. They are not straight forward anymore. Let's hope for the best.

That's what I gathered from their Eliozu office. They told me 21 days but their manager was telling me 7 days Anyway I have terminated my investment. It is to follow it up with legal works as he was telling he would not pricess the termination until I received my ROI which date no one could tell. The contract says I should give 30 days notice which I have done today. So I need to force them to obey the contractual terms which they want to wilfully breach without expecting any consequence.

iyobosadavid:
I don't need to state any point to you or anybody badmouthing my investment. If dont want abuses and cause, why dont you just waka pass cos the last time i checked, the topic still remains "MBA investors forum" and not the opposite.

Of I am an investor and my action is not directed at you but MBA with which I have contracts. Check out my posts on a monthly basis for more than 4 months now. I would come and testify when I got paid and even advised others of steps I took to get paid if there was a delay. So I don't see anything wrong if I announced here that I haven't been paid and expressed my concerns and also disclosed action I am taking. So I find it strange if another investor like you will start causing me and others. It was on this thread that an investor introduced addy to me. I started with them in July and I never had to call them once for delayed ROI. The last I got from them was yesterday. Because of their performance I trued to create a thread like this but Nairaland took it down. I don't know why.

Gozzylala:
Bro, if your money is with MBA and you really want to get paid, will you go to court to ask that the account from which you will be paid be frozen? If it's frozen how will you then get paid? Be honest.

You simply don't know the workings of the courts. Once the accounts are frozen, it simply prevents the company from accessing it. The court will direct the banks to pay you directly what is due. I have taken action like that against a client. I got paid from their account with Diamond Bank and GTB. Once the payments are made the courts will unfreeze the accounts.

leojah:
LAS LAS OJORO GO CHOP OJORO NOTHING REMAIN.

I wonder why Africans most especially Nigerians have such great affinity to dubious, super accelerated wealth programs and conmen that promise to generate and redistribute wealth among the income brackets which it fulfills partly but it in the end it's true form is revealed as a one-sided sham scam that pushes money up a pyramid to profit the top minority with the losses of the bottom majority. I believe it's a symptom of poverty and desperate survival culture which we need to outgrow for the betterment of our societies.

The dominant players in the FOREX industry who control over 80% of market volume don't make humongous returns "per month". A typical Hedge Fund has a minimum profit target of 20% per annum. The largest global banks have an average annual return below 30%.
This is largely conservative and a far cry from profit returns above 150% which these "forex/money experts" advertise.

If they are so certain about their exceptional results, why do they need to draw in investments from the public and risk loss of public funds along with administration, expansion and other capital intensive costs.
The most logical approach would have been:
......Reveal your "black-box" fireproof strategy and back-tested results to a handful of high net worth individuals and banks or possibly fund yourself.
......Acquire minimum funding of $10 million for your company.
......Register your company as a proprietary trading firm.
......Maintain capital costs as low as possible possibly rent a single room office space, stellar equipment and internet connection (that's most of all it takes to trade forex from as low as $1 to $1 Billion and beyond).
...... Excluding all costs, with a 'fixed" annual return of 150% your initial capital of $10 million would have grown to over a Billion dollars in about 6 years.
10,000,000 * 2.5^6 = $2.4 Billion
Even if your expected performance falls to 100% your initial capital will grow to reach a $Billion+ in less than 10 years.

Some might ask "who would give you that kind of money upfront ?" actually very few people would but considering these "experts" have proven themselves over 4 years, most billionaires with lots of cash lying on the sofa would have been interested in this "free money" and can possibly fund even more than $10 million.
But NO these "forex/money experts/doublers" will never consider this option because they know and are certain that the "integrity" of their operations can never survive the light of transparency, audit and regulation.

The Regulators are complicit in these menace too. Some has them have flagged these entities but have failed to take decisive. That notice independently is a sufficient Caveat to potential investors. Yes, Forex is not highly regulated in Africa, Nigeria inclusive nevertheless there are many angles through which these guys can be tackled. One of those measures is Illegal Deposit Taking the second is Absence of Insurance Policy.
.......Only licensed and approved organizations are allowed to take deposits from the mass public (especially lower class investors) irrespective of the
withdrawal arrangements.
.......These Deposits are expected to be Insured incase of loss. No reputable insurance company is willing to bear the risk of any
fraudulent/ambiguous/ponzi scheme. So none of these companies are insured if they run away tomorrow expect nothing.
The silence of these regulators don't baffle me after all, it isn't right to talk when your mouth is full while eating.

Let's get a bit technical into why these schemes don't seem practical in any sense.

I have financial trading experience with Citigroup and Trafigura at their offices in Singapore. Therefore I understand the markets as some of you should too who have been trading for a while now although with different experience levels.

My first case is this simple fact: ALL MARKETS FLUCTUATE SPONTANEOUSLY.

This is even more profound in the Forex Market than in stocks. The Forex market moves in a random fashion forming long trends, short trends, ranges and sometimes out right Brownian motion.
You can't relate the results, events and elements of the past with the possibilities of the future because the market is as fickle as a human emotions.
All you can do is ride in the direction of high probability and limit your risk appropriately.
On this premise, it is therefore impractical to offer a fixed rate of return from trading forex because your Results (Profit & Loss inclusive) might vary widely instantaneously. You can't win everyday.
In fact, no professional body in the world, hedge funds, prop firms etc. provide fixed rate arrangements except these "experts".
All that is there is that your performance should stay conservatively attractive in order to retain clients.

My Last but most Vital Point is: the INVESTOR PAYOUT INTERVAL

How often investors are paid out is an important factor concerning any trading or investment company managing investors' asset because it determines their trading style. I will use the example of a typical Hedge Fund arrangement because it is the most prominent institution outside a Banking structure that is allowed to collect funds from the public (although strictly selective) for the purpose of investment.

A typical Hedge Fund has an average lock up period of 1.5 years sometimes even up to 4 years and their is no scheduled payment of profits.
During this period the investor has waived off access to their funds for withdrawal.
This gives the company adequate time to deliver good results while distributing risk efficiently.
The inverse is the case for these "pseudo hedge funds" who commit double atrocity by paying out most if not all their clients a "Fixed" return on a "Monthly" basis.

The risk flaw in the latter practice is that the "pseudo hedge fund" theoretically has to risk the "whole basket" on a monthly basis in order to payout money to clients. The outflow of the accrued profit made by the company for that month has also reduced it's chances of compounding on past gains for future sustainability.
They might claim to have cash reserves, but from where can they generate enough cash reserve especially within a market as unpredictable as the Forex Market where losses are inevitable?
How can you have cash reserves when you are paying everyone monthly and withdrawal is possible in less than a year.
How? Maybe they are taking loans from Banks or perhaps in actuality they are paying back the specified part of investor's funds without corresponding income from forex and when time for withdrawal reaches you recycle money from another client. Hopefully, most charmed investors aren't willing to withdraw just yet, possibly they reinvest back their returns with even more additional money in a rollover plan.
Who knows?

I also have to criticize the acquisition of a relatively Large "Investment Company" by an unverified shell company that has no technical experience in the involved sector. Why should a 'Citizenship by Investment' company buy over a financial investment & trading company. Are you sure someone isn't trying to purchase foreign citizenship. Remember the case of Mrs Dieziani Allison-Maduke, you can't prosecute a non-resident foreigner without an extradition treaty. Think about this.

In Conclusion:

I am not here to coerce anyone into any decision. Awareness is my primary objective.
I just want you to understand that the activities of MBA Forex and their likes don't fit into the category they claim to belong.
Know what you dealing with and strategize how to tackle or avoid it. Risk only what you can avoid to lose.
Because we have a lot of uninformed people who consider these things normal practice every where else in the world.
That notion is far from the truth because the existence of these type of firms in the developed world is minimal to none because the knowledge and experience to filter what is authentic and what isn't is what made them what they are today.

I don't suggest that MBA forex and their likes will crash this year. It will go on as long as the charade of greed continues and expands but mark my words when it crashes, the Truth will be revealed and the Bottom majority of the Pyramid will actualize their well deserved losses.

To all those MBA Forex audacious activists that would come after me, ask yourselves one question, "If MBA Forex is operating an honest establishment would a flimsy dissuading opinion or lack of new investors counteract it's growth or existence?"
If your answer is a an assured NO then why the stress?
On the other hand I am obligated by human sympathy to highlight the reality for unsuspecting investors.

A Safe Forex Investment at the moment aside from self-trading should be in the form of a PAMM and Copy-trading model. Which is offered by various reputable companies and brokers.
It is highly transparent, in that you get a real time view of how your money is being put to work unlike a "behind the curtain" arrangement.

Have a good day people.

That's an excellent and comprehensive write-up.

DrAkpa:
The guy's behaviour captures the behaviour, heart and soul of the average Nigerian.
Most Nigerians are evil by default

So what is evil in investor trying to recover his or her money. If I ask for capital refund and MBA anwers responsibly and timely there will be no need for litigation.

Gaddafiyusf:
I suspect this account belongs to maxwell odum. See how he's referring to himself as our dear maxwell odum.

This DrAkpa has been consistent in defending MBA. It is his personal choice to do that.

IWUBOY:
My dear no reasonable investor no matter his or her stake with MBA will come her to cause more harm than good to his or her investment... A genuine investor will pray for MBA sustainability... He or she will be patiently wait for solution of issues... Or even think about things that can help in the companys growth...

How on earth will an investor come ( naria land) and say he will take MBA to court if they don't pay him?
Imagine that guy soreb or watever his called claiming he has Ben with MBA 4 over 12months n jxt little delay... See what he has turned to. Seeing such statements will u still believe his an investor... If at all he is then he's very stupid... Which means somepersons are not supposed to invest in this life... Jxt wait for salary when it comes use it n buy food n cloths that's all.

It is a personal choice whatever action an investor wamts to take to recover his or money. I am not here to prove to anybody whether I am an investor or not. I am off to the Eliozu office to terminate my investment expiring in January. On this investment my 10th ROI was due on Nov 9th and I have not been paid. Then when I am back in Lagos later this week, I will terminate the investment expiring in March 2021. I am yet to receive my 8th ROI on this investment due Nov 3rd.

iyobosadavid:
And you think what you noticed is right abi, keep fooling your stupid self

It is unfortunate that people like you cannot state your points with abusing others.

meshzhi:
Rain of alerts

He chose to pay the small ones (N60k and co). Mine is N750k in 3 places being owed since Nov 3rd.

frday:
By now that guy has made plans to flee from country since he made Abuja as central collection Centres that shows he will ve access to the money very easily.This guy started planning this since 4months by moving the whole capital Abuja. Before different branches are paying then he moved the whole money to Abuja where he can easily move the money to his private account.We are here quarreling ourselves.cant we think well

That may be responsible for the delays. I know he decides to flee which is the reason for the WCEP deal. The best option is for one to rush to freeze the accounts of MBA and his personal accounts. I can now understand why he paid one mama from his personal account.