EFCC Recovers and Returns N96.5m to Victims of Enugu Ponzi Scheme

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The Economic and Financial Crimes Commission (EFCC) has returned N96.5 million to victims of a fraudulent forex-based Ponzi scheme operating in Enugu, reaffirming its commitment to protecting Nigerians from financial crimes and ensuring restitution for those who have suffered losses.

The refund was made on Thursday, December 4, 2025, when the Commission handed over bank drafts totaling Ninety-Six Million, Five Hundred Thousand Naira to the affected investors.

The recovery followed a petition dated September 30, 2024, filed by Chijioke Ngwu and several others against Oyubu Clement Akpojewve, also known as Justice Nonso Chima, Managing Director of Leverage Index Limited. According to the petitioners, Akpojewve deceptively presented himself as a certified forex trader and lured them into investing large sums through enticing but fraudulent investment packages.

He reportedly offered investors two plans: a Monthly Plan, which required a minimum investment of N2.5 million with promised monthly returns of N200,000 or 8% profit; and a Live Trading Plan, which promised 10% profit within 24 hours after the company allegedly executed a live forex trading session. The funds were paid into a designated UBA account controlled by the suspect.

However, shortly after securing the investments, Akpojewve allegedly began giving excuses about disagreements with trading partners. Before long, he reportedly shut down his office, became unreachable, and disappeared with investors’ funds.

Following the petition, EFCC operatives launched an investigation that revealed a sophisticated scheme in which Akpojewve and his accomplices diverted and laundered the victims’ funds across multiple bank accounts in an attempt to conceal the money trail.

During the handover ceremony, EFCC Executive Chairman, Ola Olukoyede, represented by the Enugu Zonal Director, Commander of the EFCC, CE Daniel Isei, emphasized the Commission’s resolve to pursue economic offenders and ensure victims are not abandoned after falling prey to fraudulent schemes.

“Beyond giving you the draft, this should serve as a lesson,” he said. “We must all be more vigilant. Some offers may look too good to be real. We should not be in a hurry to double our money overnight. Let this be both encouragement that the EFCC is working for Nigerians and a learning point for everyone.”

One of the beneficiaries, Ukwu Ernest Ikechukwu, who received a draft of N19.9 million, expressed overwhelming gratitude to the EFCC for its professionalism and transparency.

“Nobody asked me to give him one naira,” he said. “This is the first time I’m seeing a government agency work with such integrity. If every other agency can emulate the EFCC, this country would be better.”

The Commission reiterated that Ponzi schemes continue to evolve in sophistication, and urged Nigerians to conduct due diligence before committing their funds to investment opportunities that promise unusually high or fast returns.