Massive Protests from MBA Forex Firm Victims Arise in Nigerian City
- Angered people are threatening to dump corpses of victims who have died from frustration over the alleged fraud.

People are spotted around the palace of the Paramount Ruler of the Elekahia community, who are protesting against Maxwell Odum, CEO of the firm, who is accused of defrauding Nigerians of billions of Naira. Christian Agadaga, one of the leaders of the protests, told media outlets that they are seeking to summon the owner of MBA Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying that forex trading is a very attractive market for not only banks and hedge funds, but even for the small individual trader, due to the low barriers for entry. One literally only needs a computer with an internet connection, and some money deposited with a forex broker. As a simple example, if you were very confident that the Euro (EUR) was going to gain strength against the US Dollar (USD) in the mid to long term, then you may decide to buy (or go long on) EUR/USD. If the EUR/USD was trading at 1.1500 at the time of purchase, a €10000 investment would have cost you $11500. As time goes by, if the EUR/USD gets stronger, e.g. its exchange rate moves to 1.2000 over the course of a few months, and you decided to close your trade there and then, you would have netted $12000, i.e. a profit of $500. No One-Size-Fits-All Approach to Forex Trading Whilst forex trading is easy to delve into, it’s notoriously difficult to master, especially for those without a financial background. A lot of time and effort is needed to practice trading on demo and eventually on real accounts. No doubt it takes dedication, discipline and patience, along with developing an edge to beat the market. That edge is gained by studying at least one of two fields, known as technical analysis and fundamental analysis. The former involves looking at currency charts, seeking out certain patterns using tools and software known as price action and indicators to help determine which way a particular forex pair may meander.By extension, the latter involves focusing on the latest news reports and geopolitical situation of the countries involved. Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying that forex trading is a very attractive market for not only banks and hedge funds, but even for the small individual trader, due to the low barriers for entry. One literally only needs a computer with an internet connection, and some money deposited with a forex broker. As a simple example, if you were very confident that the Euro (EUR) was going to gain strength against the US Dollar (USD) in the mid to long term, then you may decide to buy (or go long on) EUR/USD. If the EUR/USD was trading at 1.1500 at the time of purchase, a €10000 investment would have cost you $11500. As time goes by, if the EUR/USD gets stronger, e.g. its exchange rate moves to 1.2000 over the course of a few months, and you decided to close your trade there and then, you would have netted $12000, i.e. a profit of $500. No One-Size-Fits-All Approach to Forex Trading Whilst forex trading is easy to delve into, it’s notoriously difficult to master, especially for those without a financial background. A lot of time and effort is needed to practice trading on demo and eventually on real accounts. No doubt it takes dedication, discipline and patience, along with developing an edge to beat the market. That edge is gained by studying at least one of two fields, known as technical analysis and fundamental analysis. The former involves looking at currency charts, seeking out certain patterns using tools and software known as price action and indicators to help determine which way a particular forex pair may meander.By extension, the latter involves focusing on the latest news reports and geopolitical situation of the countries involved. Read this Term and Capital Investment Limited.
“We also use this opportunity to call on the President of the Federal Republic of Nigeria, Muhammadu Buhari, to shift a little focus on financial banditry, because Maxwell Odum is a financial terrorist and a bandit. He should be fished out. He (Odum) cannot be smarter than Nigeria. We are calling on the President to mandate the Inspector-General of Police, Usman Baba Alkali, to fish out Maxwell Odum,” he commented.
Agadaga claimed that some victims have died or are hospitalized due to the frustration of having lost their money in the alleged fraudulent forex scheme. “For us as civil society organizations, we appreciate the fact that the paramount ruler will hear from all sides; we know that his royal highness will live above board by not taking sides with his kinsmen and subjects,” Enefaa Georgwill, Chairman of the Rivers State Civil Society Organisations, told local press.
No Money Has Been Refunded
As of press time, Odum remains unreachable to any inquiries from the media. The bogus firm is located in Port Harcourt and has been inoperative since December 2020. Last year, he sent an audio statement claiming that he would refund investors’ money, something that has not happened.
In September, two South African Forex scammers were convicted twenty years after the investigations and court proceedings of a case. The two brothers, Peter and Louis Henderson, are responsible for scamming over R 6.2 million ($437,170) from investors.
People are spotted around the palace of the Paramount Ruler of the Elekahia community, who are protesting against Maxwell Odum, CEO of the firm, who is accused of defrauding Nigerians of billions of Naira. Christian Agadaga, one of the leaders of the protests, told media outlets that they are seeking to summon the owner of MBA Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying that forex trading is a very attractive market for not only banks and hedge funds, but even for the small individual trader, due to the low barriers for entry. One literally only needs a computer with an internet connection, and some money deposited with a forex broker. As a simple example, if you were very confident that the Euro (EUR) was going to gain strength against the US Dollar (USD) in the mid to long term, then you may decide to buy (or go long on) EUR/USD. If the EUR/USD was trading at 1.1500 at the time of purchase, a €10000 investment would have cost you $11500. As time goes by, if the EUR/USD gets stronger, e.g. its exchange rate moves to 1.2000 over the course of a few months, and you decided to close your trade there and then, you would have netted $12000, i.e. a profit of $500. No One-Size-Fits-All Approach to Forex Trading Whilst forex trading is easy to delve into, it’s notoriously difficult to master, especially for those without a financial background. A lot of time and effort is needed to practice trading on demo and eventually on real accounts. No doubt it takes dedication, discipline and patience, along with developing an edge to beat the market. That edge is gained by studying at least one of two fields, known as technical analysis and fundamental analysis. The former involves looking at currency charts, seeking out certain patterns using tools and software known as price action and indicators to help determine which way a particular forex pair may meander.By extension, the latter involves focusing on the latest news reports and geopolitical situation of the countries involved. Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying that forex trading is a very attractive market for not only banks and hedge funds, but even for the small individual trader, due to the low barriers for entry. One literally only needs a computer with an internet connection, and some money deposited with a forex broker. As a simple example, if you were very confident that the Euro (EUR) was going to gain strength against the US Dollar (USD) in the mid to long term, then you may decide to buy (or go long on) EUR/USD. If the EUR/USD was trading at 1.1500 at the time of purchase, a €10000 investment would have cost you $11500. As time goes by, if the EUR/USD gets stronger, e.g. its exchange rate moves to 1.2000 over the course of a few months, and you decided to close your trade there and then, you would have netted $12000, i.e. a profit of $500. No One-Size-Fits-All Approach to Forex Trading Whilst forex trading is easy to delve into, it’s notoriously difficult to master, especially for those without a financial background. A lot of time and effort is needed to practice trading on demo and eventually on real accounts. No doubt it takes dedication, discipline and patience, along with developing an edge to beat the market. That edge is gained by studying at least one of two fields, known as technical analysis and fundamental analysis. The former involves looking at currency charts, seeking out certain patterns using tools and software known as price action and indicators to help determine which way a particular forex pair may meander.By extension, the latter involves focusing on the latest news reports and geopolitical situation of the countries involved. Read this Term and Capital Investment Limited.
“We also use this opportunity to call on the President of the Federal Republic of Nigeria, Muhammadu Buhari, to shift a little focus on financial banditry, because Maxwell Odum is a financial terrorist and a bandit. He should be fished out. He (Odum) cannot be smarter than Nigeria. We are calling on the President to mandate the Inspector-General of Police, Usman Baba Alkali, to fish out Maxwell Odum,” he commented.
Agadaga claimed that some victims have died or are hospitalized due to the frustration of having lost their money in the alleged fraudulent forex scheme. “For us as civil society organizations, we appreciate the fact that the paramount ruler will hear from all sides; we know that his royal highness will live above board by not taking sides with his kinsmen and subjects,” Enefaa Georgwill, Chairman of the Rivers State Civil Society Organisations, told local press.
No Money Has Been Refunded
As of press time, Odum remains unreachable to any inquiries from the media. The bogus firm is located in Port Harcourt and has been inoperative since December 2020. Last year, he sent an audio statement claiming that he would refund investors’ money, something that has not happened.
In September, two South African Forex scammers were convicted twenty years after the investigations and court proceedings of a case. The two brothers, Peter and Louis Henderson, are responsible for scamming over R 6.2 million ($437,170) from investors.