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How fake forex platform landed 27-yr-old student in prison

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John Akpan Ode

How fake forex platform landed 27-yr-old student in prison

27-year-old John Akpan Ode is a native of Ogoja in Cross River State. After his secondary education, John relocated to Lagos in search of a better life since his poor parents could not afford his quest for further education.

Within a few years, John mastered the art of fixing tiles, roofing and forex trading and used the proceeds from both side hustles to see himself through school at the Lagos State Polytechnic.  John was doing well for himself and looking forward to a bright future until he stumbled on a fake forex platform, He started getting good returns on his investment and helped others to join. When the platform crashed a few months later and John lost all his investment, instead of being a victim, he became a prime suspect. In this edition, John tells Encounter how he spent months in Kirikiri prison over an alleged N6 million forex fraud he knew nothing about.

Background

My name is Akpan John Ode. I am from Yala Local Government Area of Cross River State. I attended Obachime Community Primary School and St. Francis Meridian College in Yala Local Government Area. I am from a polygamous family. My father married four wives and my mother is his last wife. My father had 19 children and taking care of them was a big challenge for him. Only a few of my siblings attended primary school and we were always fighting amongst ourselves in the family. Immediately I managed to finish my secondary school and got my West African Examination Council, WAEC Certificate in 2015, I decided to relocate to Lagos and do something useful with my life. I stayed with one man from my village and learnt how to fix tiles and roofs. I was also helping the company to market their products. From the little money I made from the company, I enrolled into Lagos State Polytechnic to study marketing.

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Side hustle

While studying for my OND in LASPOTECH, a friend introduced me to forex trading. I took a little training on the business and over time, I mastered the secrets and started making money from it. I joined quite a few platforms and made some good returns.

Trouble

I was doing well until I started introducing others to the business. The first set of people I introduced on the platforms I use, did very well and made good money from their investments. For a long time, I didn’t have any problem with anyone until I decided to invest in a new platform last year.  My investment on the platform grew from $300 to about $5,700 and I was doing bi-weekly withdrawal of $200 to take care of my personal needs. One day, a sister introduced a lady based in Abuja to me. The lady said she was interested in forex so I introduced her to the new platform I was using. She had just $360 so I assisted her with an additional $300 to start off. I only offered assistance but she was doing the trading herself. The lady made $5,000 over time but chose to reinvest the profit instead of withdrawing it. We were all shocked one day when the site froze and we could not trade again. It was later that it dawned on us that we had been scammed. The lady called me and insisted that I must refund her $5,000 but I explained to her that I am also a victim. She made a lot of trouble until I stopped hearing from her.

Arrest

I had forgotten everything until July when I returned from my village  where I had gone to visit my parents. My tiles and roofing work was not coming regularly so I tried to do other things to survive. In August, I got a call from a strange person who I later discovered was a police officer. Before that call, they had already arrested one of my brothers and his wife. They also arrested one of my sisters in Lekki who eventually led them to my house. The police officers initially told me that my arrest was in respect of a phone but when they took me to their office in Ikeja, they began to ask me a different question.

Bogus allegation

When we got to the Lagos State Police Command in Ikeja, the police officers asked me if I knew anyone called Ugochi. I replied that I knew her and told them how I introduced her into the forex trading platform which eventually crashed. They insisted that I was lying and threatened to beat the hell out of me if I continued lying. They showed me a petition that Ugochi had written alleging that she invested N6 million through me. When I maintained that I never defrauded the complainant, I was locked up in a cell for 11 days. My family didn’t know my whereabouts for those 11 days as my phone was seized. I was taken to the office of the Commissioner of Police where they took my statement. I showed them my WhatsApp conversations with the complainant and the $360 she sent to me for the investment.

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Police insists on refund

Despite all my explanations, the police said I should refund the N6million. I told them that I didn’t have any money and that I also lost my all investments. When they realised that I didn’t have any money, they decided to file a charge against me before a Magistrate court.

Journey to Kirikiri

I was arraigned for fraud before an Ogba Magistrate Court. I pleaded not guilty to the charges and was granted bail. Unfortunately, I didn’t have anyone to stand surety for me so I was taken to Kirikiri prison pending when I could sort out my bail. The matter was adjourned to two subsequent dates but I still didn’t have anyone to stand as surety for me.

Ordeal in prison

The day I got into the prison, I was seriously beaten and punished inside the welcome cell where I spent two days. An inmate I met in court had explained to me the rules and regulations in the prison so I was a bit ready for the beating and punishment. I really suffered in the first few days of my arrival in the prison but after a while, I began to adapt to the environment. The prison environment was a strange world to me because of the different kinds of people I saw there. From murderers to kidnappers, rapists, yahoo yahoo boys, armed robbers and many other terrible criminals. The kind of people you find there are not normal.  I found it strange that I was among these kinds of people for what I didn’t do. The food was terrible. I tried not to eat my meal portion but it was very difficult. Once in a while, one of my sisters brings me food and money so I tried to survive on that. Some churches also bring us food occasionally. At some point, I had a serious health issue after I was infected by the environment.

Warders’ role in prolonged incarceration

I believe that warders are partly responsible for some inmates’ prolonged stay in prison. I spent just six months in prison but I was shocked to discover that some inmates had spent years for similar allegations simply because warders failed to disclose the date of their trial. Sometimes when we go to court and the magistrate fails to sit; it is only the warders that approach the registrar for the adjourned date. For those of us without lawyers, we are always at the mercy of the warders. If they don’t tell you the adjourned date for your matter, you will simply rot in prison.

Botched trial, NGO intervention

After my arraignment, I appeared in court twice without a lawyer and on those two occasions, the magistrate did not sit.  When I returned to the prison, an inmate told me about a non-governmental organisation, Anchor Heritage and how they have been assisting innocent inmates to regain their freedom. I waited until the day the NGO came and I presented my case to them. The head of the organisation, Mr. Bidemi Oladipupo assured me that they would look into my matter.

 On the next adjourned date, I was surprised when a lawyer from the organisation took over my case. Throughout the trial, the complainant who was resident in Abuja never showed up in court. Only one man who claimed to be her uncle appeared. The matter was adjourned four times until the magistrate decided to strike out the case. I guess it became clear to the police that the complainant lied to them and was unwilling to go ahead with the matter so they decided to withdraw the matter. I was happy that the case was withdrawn but the thought that I had to spend six months in prison for a lie made me feel bad.

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Motivated by prison ordeal

Nigerian prison is not a good place to be but my six months in Kirkiri prison was an eye opener. Looking back, I would say the prison prepared me to face life with a motivated mindset. I have a different mindset now about helping people because of my experience. Before going to prison, I wasn’t close to God but that place became a blessing in a way for me. I experienced God’s mercy in prison and since I got out, I have been closer to God more than ever before. The help I also got from Anchor Heritage has also motivated me to aspire to establish a charity organisation to help people in need.

Why I fell victim

Forex is good when someone has funds and knows the intrigues of the business. I have used some platforms that were good. The truth, however, is that there is no guaranteed way of knowing a fake platform. If you join a platform early, even if it is fake, you would have made some significant gain on your investment if you cash out early. Unfortunately, I didn’t cash out early enough before this particular one that got me into trouble. The reason I got into that business was because I needed funds to pursue my education. What happened to me was a temporary setback which I believe has also strengthened me.

Appeal for assistance

Since I got out of prison, things have been difficult. I still want to return to school but the fund is not available. The tiles and roofing business is also not coming as regularly as it used to be. I am appealing for support from well-meaning Nigerians. I want a job so that I can further my education and become useful to myself and my country.

How fake forex platform landed 27-yr-old student in prison

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NURTW scribe felicitates Nigerians on Xmas, urges caution 

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NURTW scribe felicitates Nigerians on Xmas, urges caution 

 

The General Secretary of the National Union of Road Transport Workers (NURTW), Comrade Kayode Agbeyangi, has enjoined Nigerians to imbibe the virtues of peace, love and compassion as taught through the birth of Jesus Christ.

He stated this in his Christmas and end of the year goodwill message to felicitate members of the union and Nigerians in general.

Agbeyangi urged Nigerians to use the festive season to reflect on the values of love, compassion, and sacrifice that Jesus Christ embodied.

“This period is not for merry making alone; we should also spare time to reflect on the birth and life of Jesus Christ.

“His birth teaches humility, love compassion and sacrifice. As Nigerians, we must show love to our fellow county men. We must love our country. As Nigerians, we must be ready to make sacrifices for the nation.”

The NURTW scribe also used the opportunity to appeal to members of the union and other road users to always exercise caution and adhere to all safety protocols while travelling during the festive season.

“As we celebrate, let us not forget the importance of road safety. The roads can be treacherous, especially during the festive season.

“I urge our members and all road users to drive safely, avoid overspending, overtaking at dangerous bends and overloading, and be courteous to other road users,” he stated.

He also advised drivers that all their vehicle papers should be up to date to avoid embarrassment from law enforcement officers on the highways.

Comrade Agbeyangi prayed for a peaceful and joyous celebration, and wished members of the union and Nigerians, a happy prosperous New Year.

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Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam

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Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam

 

The Chief Imam of Lekki Central Mosque in Lagos, Ridwanullah Jamiu, has said the “Jesus Christ is Not God” banner placed on the fence of the mosque was not intended to provoke anybody. The banner became a source of controversy after a picture of it was shared on social media, with many calling it an…

The Chief Imam of Lekki Central Mosque in Lagos, Ridwanullah Jamiu, has said the “Jesus Christ is Not God” banner placed on the fence of the mosque was not intended to provoke anybody.

The banner became a source of controversy after a picture of it was shared on social media, with many calling it an attack on the Christian faith.

 

Addressing his congregation, Jamiu said the banner was displayed to educate Muslims.

 

He said, “When you come to Lekki Central Mosque, at least you should learn something. You pass by the banners outside, you look here and there, you learn something because Islam treasures knowledge.”

The Imam said all the banners displayed outside the mosque contain Quran and Hadith verses.

 

He said after a photo of one of the banners went viral, he “received calls from the government, local government, and area command appealing to us to please remove the banners because of the festive period.”

 

He said the display of the banners was not to provoke anyone, noting that there’s a difference between propagation of Islam and provocation.

 

“It was not placed there just yesterday. It has been there for about two months or thereabout. We are peace loving people, we don’t provoke anyone. We only propagate our name,” he said.

Jamiu further stated that nobody can monopolise Jesus because Muslims also have what they believe about him as backed by the Quran which calls him Isah.

 

“If you don’t believe in Jesus, you are not a Muslim. We are Muslims and anything we believe must be in consonant with the Quran and the Quran says Jesus Christ is not God, he’s a messenger of God. We quoted this verse in the banner. Is there anything wrong if we paste what we believe on our territory to educate our congregation? It’s a verse of the Quran. This is freedom of religion, freedom of speech,” he said.

 

On the removal of the banner, Jamiu said he received multiple calls ascribing the gesture as cowardice.

 

 

“It is not cowardice. We removed it to let peace reign, to obey our government because we are peace-loving people and also because we know it’s a festive period, people may think it was actually calculated to enrage others. We are going to modify it and put it back. We are not cowards,” he said.

 

The banner has since been replaced with another which says “A

llah is the lord of Jesus.”

 

Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam

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CBN fines bank found hoarding cash N150m

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CBN fines bank found hoarding cash N150m

The Central Bank of Nigeria (CBN) has imposed a N150 million fine on a commercial bank for failing to dispense cash through its Automated Teller Machines (ATMs).

This action follows an unannounced inspection by the apex bank, which uncovered deliberate cash hoarding and ATM manipulation by the erring bank.

Sources within the CBN revealed that the sanctioned bank was caught disabling its ATMs, thereby denying customers access to their funds while prioritizing cash disbursements to select VIP clients.

A staff member of the CBN stressed that the apex bank would not tolerate such practices.

“The Bank will not spare any Deposit Money Bank (DMB) caught in the act of hoarding cash or found favoring VIP customers over other customers,” the official stated.

To this end, the CBN has intensified spot checks on banks nationwide, exposing various illicit cash-handling practices by some unscrupulous financial institutions.

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For now, the CBN is imposing financial penalties on defaulting banks. However, according to the official, the next phase of enforcement will include publicly naming and shaming offending banks and prosecuting implicated bank officials.

“This fine is just the beginning. The CBN is determined to hold banks accountable for any actions that undermine public trust and the integrity of the banking system,” the official added.

Despite the ongoing challenges, the CBN has reiterated its commitment to promoting cashless banking in the country.

Another senior official disclosed that the apex bank’s management is intensifying efforts to encourage the use of electronic channels for transactions.

“The frustration faced by account holders is undermining our push for a cashless economy. We are doubling down on initiatives to restore public confidence in electronic banking solutions,” the official said.

CBN fines bank found hoarding cash N150m

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