The Port Harcourt branch of MBA Trading and Capital Investment Limited left its investors disappointed after its gates were met shut on Tuesday by its hundreds of investors who hoped to collect their investment returns.
The forex company’s Chairman, Maxwell Odum, had issued a memo to its investors in December 2020 that the company would resume activities in January 2021 and that payments would be made to all investors.
Investors stormed the premises of the firm on Tuesday with the hope of receiving their money but were shocked to find that the company had yet to open its closed gates.
Investors milled around the premises with the hope that the gates will be opened by the company’s staff, all to their disappointment.
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Speaking with PUNCH, investors aired their grievances, with an investor stating, “We came to know what is happening with MBA because we invested our money here some months ago.
“We had an agreement with this man. Most of us our contract (payment) has elapsed and we renewed again, hoping that we will get out money.”
Explaining the reason for the delay in payment, the chairman of the forex firm, Odum, blamed regulatory bodies, banks, and the COVID-19 pandemic.
He said that those factors were responsible for the forex firm’s inability to fulfill its promise to pay its investors as early as had been expected.
Odum said, “Regulatory bodies, banks and COVID-19. These were major setbacks why we were not able to keep to our promises.
“We sincerely apologise to all our esteemed investors for all inconveniences we have caused you during these times.”
