The Economic and Financial Crimes Commission has returned funds to victims of a collapsed investment scheme after concluding investigations that traced their losses to a network of fraudulent forex-based offers promoted through Leverage Index Limited.
The Commission said the refunds followed months of recovery efforts triggered by multiple complaints that investors had been deceived into transferring large sums with the promise of unrealistic monthly or next-day profits.
The announcement came in a statement released on Friday in Abuja, where the EFCC confirmed that the repayments totalled N96.5m and involved victims who documented their claims after the scheme’s operator disappeared.
The EFCC said the case began with a petition dated September 30, 2024, filed by Chijioke Ngwu and others against Oyubu Akpojewve, also known as Justice Nonso Chima, Managing Director of Leverage Index Limited, who allegedly lured investors through “Monthly Plan” and “Live Trading” promises that guaranteed fixed returns.
According to investigators, Akpojewve later shut down his office, became unreachable and was found to have conspired with associates to siphon investors’ funds. The EFCC said the refunds mark another step in its efforts to deny fraudsters the proceeds of economic crimes.
While presenting the recovered money, EFCC Chairman Ola Olukoyede, represented by Enugu Zonal Director Daniel Isei, warned Nigerians to exercise caution in investment decisions. “Some can look too good to be real. We should not be in a hurry to double our money overnight,” he said.
Victims who received refunds included Ukwu Ernest Ikechukwu, who collected a N19.9m draft, and Ikechukwu Ogbunubi, who received N10m; They commended the Commission for its “professionalism and integrity” in recovering their funds. Other recipients were Temple Lewis Maduka with N7.5m, Ngwu A. with N19.4m, and Alphonsus Umeh with N7m.
