Nigerian investors are raising alarm over alleged financial exploitation and coercion by the management of Electronic Wealth Connect (E-Wealth), an online Bitcoin trading platform.
The aggrieved traders, led by whistleblower Kola Adepoju, have called on Arise NewsTV’s Morning Show crew, particularly Rufai Oseni, Dr. Reuben Abati, and Mumbai, to intervene before the situation escalates into another “CBEX-like” collapse.
According to Adepoju, E-Wealth was founded about five months ago by Mrs. Ada Ijeoma (aka Ada Dollar Winner), who promised investors high returns on Bitcoin bidding. The platform allowed traders to commit funds for 6, 12, or 21 days, with a 50% return on investment (ROI). For example, a N500,000 investment would yield N1 million after 21 days, with the freedom to withdraw both capital and profits at will.
However, three weeks ago, E-Wealth’s management allegedly introduced a mandatory “recommitment” policy, forcing traders to reinvest 50% of their pending profits before accessing their funds.
“If you were due to cash out N1 million, you must first reinvest N500,000—otherwise, your money remains ‘pending’ indefinitely,” Adepoju explained.
He said the sudden shift has left cash-strapped traders stranded, with many unable to meet the new demands. Some investors reportedly borrowed money to join the scheme and now face threats from creditors, while others have threatened suicide over their trapped funds.
Adepoju and other victims are pleading for media intervention to force E-Wealth to release trapped funds, expose the scheme before more Nigerians lose money, and prevent another CBEX-like scandal. “We trusted this platform, but now our millions are held hostage. We need Rufai Oseni and the Morning Show to speak for us before it’s too late,” Adepoju stated.
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