When Amaka Edochie (not real name), a Rivers State resident, and her fiance were about to invest with Ceflog Capital Limited, a Port Harcourt-based investment company two years ago, they had some misgivings about the company.

However, with Edochie faced with the responsibility of paying for her brother’s mental health treatment and his hospital bills, they invested N1.1 million in a bid to raise some money.

While narrating the incident to FIJ, Edochie said she and her fiance activated the investment contract on July 9, 2021 after paying N1.1 million.

According to a six-month agreement signed with Ceflog, the duo were to receive a N165,000 return on investment (RoI) for each month, with the first to be paid on August 9, 2021. But the investors neither got the RoI nor their capital.

READ ALSO: Between Craig Barisuka and Anita Ijeoma, Liberia-Based Nigerian’s N33.5m Is Hanging

FIJ learnt that Chukwuemeka Ogbonnaya, the CEO, and Andrew Nwuche, the company’s public relations officer (PRO), reached out to them via emails, assuring them of a refund, but they later stopped communicating with them.

“After the death of my mum in 2019, my brother developed mental illness and the burden to take care of him fell on me,” she said.

“Things became really tough. In order to raise some cash, my partner and I concluded that I should learn how to do forex trade, but I could not concentrate due to my brother’s illness. And my fiance’s work was so demanding at the time.

“In June 2021, a student of the University of Port Harcourt (Uniport) named Chidi introduced my fiance and I to Ceflog Capital Limited. Chidi was doing his Industrial training at my partner’s company at that time. The company’s registration number is: RC 1730839,” said the Rivers State resident.

“We went o their office to see things for ourselves, so it was not as though we invested online. I must confess that we were initially scared of doing such kind of business, but they repeatedly assured us that we were insured.”

Edochie told FIJ that the company asked them to sign an agreement, assuring them that Cetflog would at least refund the capital if the investment turned sour.

She noted that they were to get a copy of the signed agreement once Ceflog’s lawyer signed it, but the company never gave it to them.

READ ALSO: One Month on, Niger Insurance Yet to Pay Dietitian’s N360,000 Withheld Since 2018

“I contacted them but all to no avail. Then two weeks after we had paid the money, they claimed they were having issues with their broker. They promised to refund us immediately, especially because we were new and had not gotten any interest.

“But from July 2021, we only got several stories and lies upon lies until they decided to ghost everyone. Yet they live flamboyantly off people’s sweat and blood while parading themselves online as children of God,” said Edochie.

FIJ’s check through Ceflog’s Instagram page showed that the company’s last post was uploaded on July 27, 2021, two weeks before Edochie and her fiance were supposed to receive their first RoI.

In response to FIJ’s email on Tuesday, Emmanuel Chukwuemeka Ogbonnaya, the CEO of Ceflog, said litigations and investigations from the Economic and Financial Crimes Commission (EFCC) had hindered the company in swiftly refunding all investors.

Ogbonnaya, who claimed that hundreds of clients had received their capital earlier this year, said the company would not relent in its efforts to refund Edochie and others.

Although he did not give a specific time, he said Edochie “and every other client would get their refunds as soon as our trading efforts yield returns and the case with the EFCC is finally resolved”.

Noting that Edochie would probably be in the next batch of refunds, he asked for more time for the company to resolve all its problems.