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Nigerian Investors Accuse Top MLM Leaders of Abetting Omegapro Fraud

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Top MLM Leaders Omegapro Fraud

By Modupe Gbadeyanka

Some top multi-level marketing (MLM) leaders have been accused of supporting a Dubai-based company, Omegapro Forex and Investment Trading Company, to defraud Nigerians.

A statement signed by Dr Ope Banwo, the Coordinating Attorney of Omegapro Action Nigeria Class (OANC), a group formed by affected investors, identified Tomiwa Orunnipin, Samuel Ajibare, Leo Bonaventure and others as those who abetted the foreign firm to dupe its Nigerian victims of over N100 billion.

It was gathered that those affected include widows, retirees, high-net-worth individuals, big business people, and even young people just starting in life.

How The Fraud Was Hatched

Omegapro Forex emerged on the scene, promising Nigerians and investors in general a pathway to financial success.

The investment scheme gained popularity and trust among Nigerians and in the world, as many saw it as a ticket to financial freedom. However, little did they know that it was going to be one of the biggest investment tragedies in Nigeria’s history.

With an intricate web of deception and manipulation, alleged promoters of the scheme, including Daniel Onoja, Tomiwa Orunnipin, Samuel Ajibare, Leo Bonaventure, and several top leader MLM Diamonds, painted the image of a foolproof investment opportunity with high returns and a secure investment environment.

Alleged promoters and agents such as Grace Udenwa Udoye, Wuraola Fadairo Orunupin, Olasebikan Oladapo, Maryann Ilorah, Chinwe Ikpe, Ajibare Olushola Ebunoluwa, Dotun Fatoyinbo, Dr Afoma Nwolisa, and Matthew Ogunmodede, marketed the venture aggressively, touting its legitimacy and potential for lucrative earnings.

At that rate of marketing, investors couldn’t help but take the bait, especially as top agents and promoters in the MLM industry who carried significant influence within their networks also participated in the marketing exercise for Omegapro.

They leveraged their status, persuading thousands of investors to entrust their hard-earned money with Omegapro. Their endorsements created an illusion of credibility that typically lured in unsuspecting Nigerians.

Aside from this, they kept assuring Nigerian investors that rigorous due diligence had been conducted by them on Omegapro’s Dubai-based owners and operations, implying that it was a legitimate and low-risk investment.

This way, investors put in their entire life savings, and pensions, while some even sold their houses and properties to invest in the Omegapro ‘Forex’ trading activities.

For their services, these top promoters allegedly collected a 10 per cent commission from the Omegapro Dubai company as a finders fee from the investment of every unsuspecting investor they referred to the scheme by selling it as a forex trading company.

At the height of what has now been declared a mega scam by investors, several of these top agents and promoters like Daniel Onoja, Tomiwa Orunnipin and Bonaventure Igboanugo allegedly earned over $50,000 weekly as finders’ fee commissions from 1000s of unsuspecting Nigerians whom they kept leading to believe that Omegapro was a legit Forex Trading Company. Cumulatively, they allegedly earned over $2 million each in just a couple of years.

The Dubai company allegedly owned by known Dubai-based scammers such as Andreas Szackas, Dilawar Singh, and Mike Simms with a long history of scamming people went as far as giving the investors a back office that showed that forex trading was going on in the company. These alleged forex trading activities have since been exposed by the USA CFTC as an elaborate scam to lure in people interested in forex trading on a global level.

According to Barrister Banwo, top promoters and agents of the biggest global forex scams in history allegedly used the illegal commissions and proceeds from this Omegapro Ponzi scheme to buy huge mansions in choice places in Nigeria, Canada, the USA, and the United Kingdom leaving investors in pain.

“Daniel Onoja recently celebrated the purchase of a multi-million-dollar house in Canada, while Leo Bonaventure, recently posted videos of the housewarming of his own amazing multi-billion naira estate in Lagos. On his part, Leo Bonaventure recently obtained a micro-banking license,” Banwo said.

While the promoters of the alleged scam smiled at the bank, investors have been crying having realised that the alleged due diligence said to have been conducted was non-existent, and their funds gone.

Interestingly, an investigation has now shown that experts in forex trading had for the past three years been sounding the alarm bells that Omegapro was a scam and a Ponzi scheme.

These experts wrote articles and posted videos about Omegapro, however, these Nigerian top agents and promoters pretended they did not see any of these warning signs as they continued to promote Omegapro as a foolproof investment.

Climax Of The Scam

The pains of Omegapro’s investors began in September 2022, when Omegapro Dubai leaders, their collaborators all over the world, and Nigeria suddenly announced that its system had been hacked, and it stopped releasing payments of matured investments to investors all over the world. A few weeks later, the Dubai owners announced that they were migrating all their investors’ accounts to a new company called Brokers Domain until they could fix the breach in their system. Investors all over the world started getting nervous with some asking tough questions.

Then around April 2022, while over $1 billion of investors’ money in over 70 countries remained frozen, the owners and their top agents and collaborators announced the formation of a new company called Go Global and began aggressively recruiting Omegapro investors to invest in the new company with promises that their investments in Omegapro would soon be released.

Many investors fell for this and started promoting the new Go Global company, while others started seeing the handwriting on the wall.

Finally, in August 2023, the Omegapro owners based in Dubai, and their top promoters and agents announced that they would not be able to pay anyone’s Omegapro investment because the United States CFTC had frozen their accounts over some investigations affecting one of their partners named Mike Simms. However, they could not explain how Omegapro money could have been seized in the USA when they had earlier confirmed that the company does not have any office in the USA and did not have any license to operate direct or financial transactions in the USA.

As suspicions grew, with many investors asking for more details of this shocking announcement, Omegapro leaders abruptly closed its doors, and many of their top Nigerian agents and promoters also went underground, leaving thousands of investors all over the world, including over 250,000 Nigerian investors in despair.

The company’s Dubai-based owners, Dilawar, Singh, and Paulo, and other top agents allegedly made millions of dollars in investments from over 70 countries all over the world, including an estimated N200 billion coming from Nigerian investors.

Amidst reports of a petition to the Economic and Financial Crimes Commission (EFCC), Interpol, and a pending class action lawsuit by affected Nigerian investors in the name of Omegapro Action Nigeria, one is forced to X-ray the involvement of these agents and promoters all over the world, especially those of Omegapro agents in Nigeria who aided and abetted the Dubai company to scam their citizens.

Questions such as were they complicit in the scheme, did they knowingly promote a fraudulent venture, or were they also victims of deception, were they willing accomplices, unwitting victims, should they be made to refund the billions of Naira they received in commissions for luring unsuspecting members of the public into parting with their hard-earned money into this global scam have been asked.

Typically, some maintain that the promoters are guilty of not doing their due diligence while promoting Omegapro thus leading to the loss of thousands of Dollars.

For this sect, the ruling is simple, a refund, at the minimum, the commissions earned from the illegal forex trading scheme is a must.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Lagos to Probe Alakija Building Collapse, Prosecute Culprits

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alakija building collapse

By Adedapo Adesanya

The Lagos State Government has said it will investigate the collapse of a three-storey building in the Alakija area of the state and prosecute anyone found culpable, while warning residents against ignoring evacuation notices issued on distressed structures.

The Commissioner for Information and Strategy, Mr Gbenga Omotoso, gave the warning on Friday while commiserating with the families of the victims, describing the incident as unfortunate.

“Our first duty is to commiserate with the families who lost their loved ones in this unfortunate incident. On behalf of Governor Babajide Sanwo-Olu, we sympathise with them and pray that such a tragedy never occurs again,” he said.

Latest update from the state government put the casualty figures at 27 rescued and nine fatalities, including a baby.

He disclosed that 27 persons were rescued alive from the rubble, while nine others lost their lives despite overnight rescue efforts.

“By the grace of God, we have been able to rescue 27 people. Unfortunately, we lost nine persons and this is very sad. We share the pain of the affected families,” he said.

According to the commissioner, the collapsed building had earlier been identified as distressed and marked for evacuation, but some occupants allegedly returned after initially leaving.

“As you can see, these buildings had been marked as distressed and people were asked to leave. Unfortunately, some residents returned after pretending to have moved out, leading to this tragic outcome,” Mr Omotoso said.

He added that other distressed buildings in the area would be demolished to prevent similar incidents.

“All the buildings that have been identified as defective will go down. We cannot wait until another tragedy occurs before taking action. The protection of lives remains our priority,” he said.

Mr Omotoso also condemned the construction and occupation of buildings beneath high-tension power lines, describing the practice as unsafe and unacceptable.

“It is not done in any civilised society. Such developments show disregard for safety regulations and contempt for the law. Government will continue to clamp down on such violations,” he said.

He assured residents that a full investigation into the collapse had commenced, stressing that anyone found responsible would face prosecution.

“The owners of the building are under investigation. Anybody found complicit in this tragedy will face the law. They will be prosecuted because no one is above the law,” he said.

The commissioner said most of the rescued victims sustained no life-threatening injuries, while those requiring further medical attention had been taken to the hospital.

He also praised the Lagos State Emergency Management Agency, the Lagos State Fire and Rescue Service, the police, the military, neighbourhood safety personnel and other emergency responders for their swift response.

“I must commend all our emergency responders who worked tirelessly throughout the night to save lives and bring the situation under control,” he said.

Mr Omotoso urged residents to prioritise safety over economic considerations.

“The most important lesson from this incident is that nobody should prioritise livelihood over life. Once life is lost, everything is lost. No business is worth risking human lives for,” he added.

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Deregistration: Peter Obi’s NDC to Challenge High Court Judgment

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peter obi NDC

By Modupe Gbadeyanka

The Nigeria Democratic Congress (NDC), founded by Mr Seriake Dickson, has reacted to reports claiming that a Federal High Court in Lokoja, Kogi State, has ordered its deregistration by the Independent National Electoral Commission (INEC) over an alleged logo infringement.

In a statement on Friday, the political party, which presented Mr Peter Obi as its presidential candidate for the 2027 general elections, said it had instructed its lawyers to challenge the judgment said to have been delivered by Justice Isah Dashen.

“Our attention ​has been drawn to a ruling by the Federal High Court sitting in Lokoja this morning, wherein His Lordship, Honourable Justice Isah Dashen, gave a ruling on an application filed by an unregistered association known as Peace Movement Party.

“The public knows that by December 2025, the Nigeria Democratic Congress, as an association, complained of INEC’s refusal to register us as a political party, whereupon we proceeded to the Federal High Court. The Federal High Court upheld our constitutional right to freedom of association under the Constitution and compelled INEC to register us, which INEC did.

“Since then, we have started political activities, embarked on the registration of members, held congresses from ward to national levels, held conventions, and concluded primaries to all offices following INEC’s timetable. We have been fully participating in all INEC activities without let or hindrance.

“NDC also fielded candidates, and fully participated in the just-concluded bye elections in Nasarawa and Enugu states.

“Candidates for the House of Assembly, House of Representatives, Senate, Governorship, Presidential, and Vice-Presidential positions have been duly nominated, and we are in the process of formally submitting them to INEC in accordance with INEC’s timetable.

“The association that filed the complaint is unknown to us. The Peace Movement Party (PMP) is not a registered political party in Nigeria. They claimed, in a motion (not even a substantive suit or appeal), that the court should set aside its earlier judgment on the purported ground that, in 2015, they had sought registration as a political party with the victory sign as their symbol and were denied.

“It is important to note that they are not an association applying for registration now under the exercise that started last year. They are also not a registered political party in Nigeria participating in the political process now, as we are.

“Furthermore, the court, having delivered a final judgment in our suit against INEC, had become functus officio. The court had also dealt with all related issues concerning associations claiming they wanted to use the same symbol and colours. The court, in its judgment, overruled INEC when those issues were raised, and there is no appeal against that judgment.

“Therefore, we are surprised that, on an application by an association claiming that it wanted to register as a political party with the victory sign in 2015—an association that is not a registered political party and is not seeking registration now to participate in the current political process—His Lordship came to the conclusion that they have locus standi, and furthermore, that he has jurisdiction to do what he did.

“Accordingly, we have been informed that His Lordship made an order setting aside the court’s earlier decision of December 2025.

“There was no order directing our deregistration. However, we are dissatisfied with the decision that has been made, and we have instructed our team of lawyers to immediately proceed to the Court of Appeal to challenge the jurisdiction and propriety of His Lordship’s order.

“We assure the general public, and particularly our candidates at all levels, that our party is on course. The NDC has not been deregistered, and we are challenging today’s order at the Court of Appeal as soon as possible. We have no doubt that justice will be done.

“We condemn efforts by those who seek to shrink the democratic space and stifle opposition voices and alternatives. Nigerians have a right to a full range of opinions, ideas, and alternatives, and political platforms and candidates should be allowed to participate in the 2027 general election process, which has already gone midway,” the statement read.

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Makinde Extends Curfew in 10 Local Governments by 24 Hours

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seyi makinde curfew extension

By Adedapo Adesanya

The Governor of Oyo State, Mr Seyi Makinde, has approved the extension of the curfew imposed on 10 local government areas bordering the Old Oyo National Park by an additional 24 hours.

The development was announced in a statement issued by the Secretary to the State Government, Mr Musibau Babatunde, and signed by the Special Adviser to the Governor on Media, Mr Suleiman Olanrewaju.

The state government had, on June 23, 2026, imposed a dusk-to-dawn curfew from 4:00 pm to 8:00 am on the affected local government areas as part of measures to address the prevailing security situation.

With the extension, the curfew, which was initially scheduled to last 48 hours, will now remain in force until Saturday, June 27, 2026.

The affected local government areas are Oriire, Orelope, Irepo, Saki West, Saki East, Atisbo, Itesiwaju, Iseyin, Olorunsogo and Atiba.

The government urged residents of the affected areas to continue cooperating with security agencies and to comply fully with the directive as efforts continue to safeguard lives and property.

This development follows the abduction of 39 students and seven ⁠teachers in an attack targeting several schools in Nigeria’s southwestern Oyo State in May.

The attack took place in ⁠Ahoro Esinele community in Oriire district, targeting a secondary school and two primary schools, according to officials. With over 40 days in captivity, all rescue efforts have so far not yielded results.

Mass ⁠kidnappings by armed groups have become a serious security challenge in Nigeria in recent years, with criminal gangs exploiting weak security to target travellers, students, and rural communities for cash payments. Schools are often targeted, although such ‌attacks ‌used to be rare in the southwest of the country.

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