Tag Archives: Port Harcourt

MBA forex investors protest in Port Harcourt after owner disappear with their N171 billion


Angry investors of the now crashed MBA trading and capital investment have protested to the Port Harcourt zonal office of the Economic and Financial Crimes Commission, EFCC, over the withholding of their funds running into billions by the company.

The embattled company crashed in November 2020 after what sources termed “insolvency of the business model” and financial irresponsibility of the management.

The company founded by Maxwell Odum left thousands of investors penniless.

It had promised to refund investors their capital, although sources say it is a time-buying gimmick.

The Central Bank of Nigeria has said,125,397 investors deposited a total of N171,128,219,041.00, into accounts belonging to MBA Trading and Capital Investment Limited.

The scheme which promised a 15 per cent return on investment to depositors, crashed in November, leaving its investors hanging with promises of return of deposited capital.

The apex bank in a legal suit with Number FHC/PH/MIsC/35/2021, before the Federal High Court sitting in Port Harcourt on the 10th of February, filed an exparte motion seeking an order of the court to stop all debit transactions from MBA accounts.

The court on the 11th of February ordered that accounts maintained in any bank in Nigeria by the company be forthwith frozen for a period of time sufficient for the Central Bank of Nigeria to conclude the ongoing investigation and inquiry into the affairs of the Company.

The accounts include 39 Naira bank accounts domiciled in Access Bank, EcoBank, FCMB, GTB, Suntrust, Stanbic IBTC, Sterling Bank, UBA, Union Bank, Unity Bank and Zenith Bank.

Others are 8 dollar accounts domiciled in FCMB, Ecobank, Stanbic IBTC, UBA and Sterling Bank.

According to a court document the company has a total of 14 branches which include Aba with 3,159 investors and deposits of N3,721, 930,689; Abuja with 10, 992 investors and deposits of N20, 508, 696,314; Allen Lagos with 10,164 investors and deposits of N13, 068, 196, 850; Asaba with 3,406 investors and deposits of N4,177,475,745; Benin with 6,170 investors and deposits of N7,016,573,157, Calabar with N2,839 investors and deposits of N3,377,292,827 and Eliozu Port Harcourt branch with 30, 138 investors and deposits of N41, 956,413,079.

Others are Enugu with 2,560 investors and deposits of N6, 972, 471, 039; Lekki with8,826 and deposits of N14, 224,187,177; Owerri 1 with 2, 545 and deposits of N2, 908,274,471; Owerri 2 with 5,276 investors and deposits of N6,752,547,834; Uyo with 2,948 investors and deposits of N4,274,056,414; Warri with 7, 213 investors and deposits of N9,766,552,367 and Port Harcourt waterlines branch with 29,151 investors and deposits of N32,403,449,045.

According to the CBN, investors from Port Harcourt made up 43.45 per cent of the total investors.

Part of the allegations against MBA which founded by Maxwell Odum is that he mismanaged investor’s funds by paying billions of naira to Pastor Chris’ Christ Embassy as a member and has continued to win the trophy as number one Top Partner Award which enables him receive Pastor Chris’ Presidential handshake.

Reacting to the court order, MBA informed its investors that it will be constrained to refrain from any further actions or statements that may affect or influence the ongoing investigation as the matter is now subjudice as it is before the court.

“It said “We have gathered that the actions of the Central Bank of Nigeria are well within the confines of their statutory obligations and was instigated by some investors against our earlier advise.

“These disruptions have interfered with our plans and incapacitated the steps we have initiated towards the realization of the repayment
of capital investments.

“Flowing from the above, we may not be able to continue to comment on any matter relating to our operations pending the determination of the investigation initiate by the Central Bank of Nigeria”.

Coast clear for Obaseki as Ogbeide-Ihama withdraws Port Harcourt case

An Edo PDP governorship aspirant, Omoregie Ogbeide-Ihama has withdrawn his case in Port Harcourt against Governor Godwin Obaseki.

This followed an out-of-court settlement following which the Federal High Court stepped down the case.

Justice Emmanuel Obile, struck out the case.

Obile had granted an interim injunction on Monday excluding Obaseki from tomorrow’s governorship primary.

Ogbeide-Ihama, had sued the National chairman of PDP, Prince Uche Secondus, Emmanuel Ogidi and seven others, including Obaseki.

He sought a court declaration restraining them from allowing Obaseki, who was not screened within the time stipulated in the timetable to contest the PDP’s primary.

Omoregie’s Counsel, Fredinard Orgbe before the hearing of the case requested that the court should stand it down.

This was to enable parties reach terms of settlement.

The lawyers to all the defendants also agreed with the request.

Port Harcourt serial killer kills again, image captured on CCTV

Barely three days after a girl was strangled to death inside a hotel room in Rivers State, another has been killed in the same manner.

The latest incident happened on Monday night and the body of the victim was discovered on Tuesday morning, inside the room of the hotel located along Stadium Rd, Rumuomasi, Port Harcourt.

This time around, the man suspected to be the killer was captured by the hotel’s CCTV. According to the video, currently being analyzed by the police, the duo checked in around 11:30pm on Monday.

However, the alleged suspect left alone the following day. The lady was later found tied up and strangled after the suspected serial killer had already left. The Rivers State police command are currently handling the situation.

BREAKING: Fully-loaded bus plunges into river in Port Harcourt!

A bus heading to Abuloma, Rivers State last night plunged into the NLNG river.

According to reports, rescue operations only started a few hours ago at the bridge, causing traffic gridlock.

More details later.

Male brothel  begins business in Port Harcourt

A male brothel has opened for business in the GRA area of Port Harcourt. The brothel which opened for business a week ago, runs a 24-hour service, including in-house services and ‘take away’ home services, the manager said.

Located at a serene part of GRA, the one-storey brothel boasts of over 25 male sex workers, mostly in their late twenties and early thirties with clients of different age ranges, especially older women who are forty and above visiting constantly.

According to the manager, the male brothel came on board as a result of the quest for sexual satisfaction by several lonely women, adding that Port Harcourt has become ripe for such business as the town play host to several multi-ethnic residents.

She equally said that it will curb many vices arising from sexual frustration amongst the women population.

She stated that the number of sex workers in the brothel is expected to rise in few months time as their customer base expands, adding that they have over 30 applications waiting for approval.

She added that they have so far enjoyed a reasonable level of patronage from the public with most of the rich customers preferring ‘take away’ instead of in-house services.

On customer satisfaction, she noted that there have been no complaints so far as their workers were screened and made to pass through rigorous training processes to ensure best customer satisfaction.

The manager, simply identified as V, added that the charges for in-house sex differ from individuals, saying that N5000 is the least one can get.

V maintained that their male prostitutes are attractive and well built and will undergo monthly tests for infections to curb any form of STIs.

She also emphasized that the prostitutes are constantly reminded and taught about safety so that they can maintain healthy lifestyles and last long in the business.

BLACK SOOT & ENVIRONMENTAL DEGRADATION IN RIVERS STATE: Hold FG responsible, says CLO

Press Release of Civil Liberties Organisation, South-South Zone

We are becoming increasingly worried over the black hydrocarbon particles called black soot which has covered Port Harcourt and other parts of the state. It is worrisome that the air people breath is covered by substances suspected to be hydrocarbons in the form of black soot.

It is frightening that the authorities responsible for ensuring respect for human rights, including the right to safe and clean environment are watching while peoples right to health, life and clean environment are being threatened by the black soot. The health hazard which the continuous inhaling of soot-contaminated air exposes to people in the affected area is frightening.

We can no longer fold our hands and watch while the environment of the state and its environs are destroyed completely. The environment is our life, and the destruction of the environment is a direct attack on people’s source of survival.

We hold the federal government and its agencies, including NEMA, DPR, NOSDRA, NESREA, NNPC, MILITARY, CIVIL DEFENSE AND OTHER SECURITY OPERATIVES as well as the IOCs and oil joint ventures responsible for the destruction of the environment.

Their actions and or inactions singularly and or collectively have led to the soot menace which has become a source of night mare to residents of the state. The soot is believed to emanate from their facilities. We wonder why the federal authorities whose primary responsibility it is to regulate activities in the hydrocarbon industry has chosen to carry on as if they are not aware of the soot problem.

The crude way security operative burn illegal refining facilities and illegally refined products with tankers carrying them, as well as the activities of artisanal refiners are believed to be major contributors to the black soot problem.

The failure of the oil operators to protect their facilities and the failure of the government of the federation to make available refined petroleum products have made pipeline vandalism and illegal refining attractive.

*We urge the federal government to declare a state of emergency on the environment of rivers State and other parts of the Niger Delta. There is need to focus undivided attention on the soot problem by the government until it is stopped.

*We also urge the federal government to prevail on security operatives to stop burning the illegally refined products they confiscate as that process lead to environmental pollution including the black soot;

*The federal authorities and the oil companies should begin to protect their oil facilities to prevent vandals and oil thieves from stealing crude which they refine crudely and illegally;

*The federal government should carry out urgent investigation into the soot menace to unravel its real cause, impacts and proffer solution scientifically.

Clean and safe environment is a fundamental human right and it is the duty of the government to protect and respect the right.

-Issued by the South South Zone of the C.L.O this 17th day of April, 2018.

Signed, Karl Chinedu Uchegbu, Zonal Chairman;

Styvn Obodoekwe

Zonal Director.

BREAKING NEWS: Army, Police, DSS seal venue of PDP convention in Port Harcourt *It’s an order from Presidency, says leader

*A Major General leads the operation backed by Grenade Launchers and Armoured Personnel Carriers

Security agencies in the early hours of Wednesday morning invaded the venue of the PDP National Convention on Wednesday morning, chasing away officials of the party and television crews.

The invading security agencies led by a Major General declared that they were directed by the Chief of Defence Staff on the orders of the Presidency to seal off the Sharks Stadium.

The security agents numbering over five hundred came with armoured personnel carriers, grenade launchers and other sophisticated weapons.

They also dislodged television crews already positioned to beam the PDP National Convention live.

As at press time, it was learnt that the organs of the PDP were meeting at a hotel in Port Harcourt to decide the next line of action.

The security agencies have also sealed off all routes to the venue.

It would be recalled that the Federal High Court in Port Harcourt in a judgement on Tuesday ruled that Police and DSS provide security for the national convention. The court also declared that its judgment of 4th July, 2016 validating the National Caretaker Committee of the Peoples Democratic Party remains valid and subsisting until vacated by the Court of Appeal.

However, Justice Abang gave a ruling yesterday evening in Abuja stopping the convention. Lawyers emphasize that a ruling is less effective than a judgment.

The Presidency it was learnt specifically directed Security agencies to obey Abang’s order for political reasons.

BREAKING NEWS: Jet fighters head towards Bayelsa creeks

Several jet fighters have been confirmed to take off from Port Harcourt air force base towards Bayelsa creeks, Jungle Journalist can authoritatively report.

According to witnesses who spoke to our Port Harcourt correspondent, the fighters were taking off in quick succession in the direction of Bayelsa State. “I can tell you there has been a lot of activities here. For about 45 minutes, they kept taking off. It’s as if there is war”.

The source continued: “I was in a vehicle when I saw two take off. I think there were more because people were talking about having seen others take off in quick succession. It’s scary. Though it’s calmer now, we are scared”.

Earlier today, Jungle Journalist had reported of stories making rounds that a missile has been fired from a South South state of Nigeria.

It however, has not been able to confirm the authenticity of that earlier story.

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