MBA Trading and Capital Investment Limited, a forex training and capital investment company, has reiterated its commitment to pay back investors capital funds after its inability to meet up with the expected investment revenue base due to market volatility among other challenges.
Recall that investors have been calling for payment of their capital fund across social media platforms and news platforms. An online news platform reported that investors alleged that major stakeholders in the company committed fraud.
In a statement signed by company’s CEO, Maxwell Odum titled “We will pay your money, MBA assures investors”, it assured investors that they will get the refund of their capital funds as the process has already commenced while some have already received their funds. It also maintained that it did not engage in another notorious Ponzi scheme and its major stakeholders never committed any fraud.
“Now, following the challenges we are currently grappling with in our business due to market volatility and other unfortunate developments, which means we are unable to meet up with the expected outcomes, we are strongly committed to ensuring that you do not at least lose your capital.
“We sold you an idea that we believed in and you have invested your funds into it because you trusted us. Where for one reason or the other things do not work out as expected in terms of your returns, the least you would expect is that your capital is safe.
“Our commitment is to pay back all capital funds. In fact, we have commenced that process by paying out our clients on the N360, 000 category (which has the largest volume of persons). To this end, we have slowly paid out hundreds of persons before we encountered an unforeseen circumstance.
“The Central Bank suspended any dealings in our accounts because, according to them, it became imperative to carry out some checks to ensure that we have been acting lawfully. All other payment gateways we normally use for easy payout of funds have also blacklisted us causing even more difficulty in the initial process,” the statement reads.
Commenting further on the issue with the Central Bank, it stated “On our part, we recognize the role of government’s intervention in moments of hazy optics. While we are not perfect, we do not subscribe to criminality and will not convert this intervention to exploitation of your patience to shy away from our responsibility. However, you will agree with us, in circumstances like this, we are expected to cooperate with the authorities until they lift this embargo and allow us to fulfill our commitments to you.
The statement also cleared the air on the smear campaigns against certain individuals who have sacrificially committed their time to stave off crisis from inception till now. “Especially our former Director, Mrs. Vodina West. Let’s make it abundantly clear that Ms West is not in possession of MBA’s corporate funds, neither is she deliberately or remotely a trigger-factor within the trajectory of our current development. As a matter of fact, even after taking on other opportunities completely different from what we do, she has still gone ahead to lend her hand of expertise to MBA as we fashion out the roadmap to resolving our current impasse.”
We assure you that this is what we will do the moment we are cleared to do so, which is the refund of capital funds to all our clients. We are hopeful there shall be fair and just appraisals of our operations and processes in a way that does not discourage other persons of perceived or suggestive high-handedness. As we do not know for how long we have to wait though our lawyers are working assiduously to vacate the order, it is our hope that the order restricting our account for 180 days would be vacated so we can resume paying you again.”
The management therefore asked for more patience and time from the investors to resolve the challenges they are currently facing.
“So, please, give us some time to sort things out; no matter how inaudible it appears, we are working zealously for your advantage keeping in mind that the current conditions are exhaustive and depressive. Confidently, by the time we are communicating next with you it would be to inform you that we have resumed putting some money in your accounts.” The statement reads.
