A Federal High Court sitting in Port Harcourt has adjourned proceedings in the alleged advance fee fraud case involving MBA Trading and Capital Investment Limited (MBA Forex), its representatives, and other defendants to June 3, 2026.
The defendants, including Precious Williams, Glossolalia Nigeria Limited, Doxasterz Oil and Gas and others are facing charges bordering on conspiracy, obtaining by false pretence, and other fraud-related offences under relevant provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2016.
At the resumed hearing, the first defendant, who also represents the second to fourth defendants was absent in court. Prosecuting counsel, Elijah Bakam, urged the court to proceed with the case, noting that a prosecution witness had travelled from Lagos to testify.
However, defence counsel, Tochukwu Maduka (SAN), informed the court that his client was absent due to bereavement. He explained that upon being notified, he promptly informed the prosecution and sought an adjournment to enable his client complete burial arrangements.
Maduka further told the court that despite this communication, the prosecution insisted on proceeding with the matter. He therefore filed an application requesting a new date.
In response, the prosecution argued that the absence of the first defendant should not stall proceedings, as the defence was adequately represented in court. Bakam noted that the prosecution had made six previous court appearances and requested that the court award N500,000 as cost for the witness who travelled from Lagos.
In her ruling, the presiding judge, Justice S.I. Mark, granted the adjournment to June 3, 2026, to allow the first defendant conclude burial arrangements. The court, however, declined to award costs to the prosecution.
The case arise from a petition filed in April 2021 by victims of MBA Forex to the Economic and Financial Crimes Commission (EFCC), seeking intervention in the recovery of their funds.
The anti-graft agency subsequently instituted legal action against the defendants on behalf of thousands of affected investors.
