EFCC Arrests Wales Kingdom Capital CEO’s parents.

The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, has arrested a couple for allegedly defrauding unsuspecting victims in a N935m Ponzi scheme which investors are claiming is even more.

The suspects, Emmanuel and Victoria Jaiyeoba, who were arrested at their residence in Ibadan, Oyo State, are parents to Adewale Daniel, Marketing Director, Wales Kingdom Capital Limited.

The CEO of Wales Kingdom Capital is still at large. The agency has promised to track him down and return the money they claim he eloped with.

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Nairaforex one of Nigeria’s leading trading services has now opened their  functionality to the general public. With Nairaforex, users can now assign the best remote professional forex traders to their capital and earn returns within a specific period.

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Wales Kingdom Capital, an investment platform which specializes in the trading of the foreign exchange market, farming and real estates and has been around for twenty two months until it experienced capital loss in the foreign exchange market last year has announced that they will be releasing a refund plan for client capitals. The plan is to liquidate all available assets to pay a small percentage of investors capital.

This stage according to them is the reconciliation and settlement process. In a memo, the CEO, Pastor Daniel Wales confessed that the company lost a huge amount of money in the foreign exchange market towards the end of the previous year which led to the halting of payment.

He asked for patience from aggrieved investors, reiterating that he is aware the company’s decision to impose a lockdown on investor’s capital will be hard on the investors. And apologized for not making investors understand there is a possibility of total loss of capital.

According to the memo, a comprehensive settlement policy will be initiated while it was also reiterated that they wouldn’t be able to pay the full capital of all investors. The expected percentage of capital that will be returned ranges from 10-15%

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