About 60,000 investors must have lost NGN12 billion to Cash Flow Global Fund Investment, GFI.
Cash Flow Global Fund Investment is an unregistered investment scheme owned and operated by one Dr. Philemon Ibrahim Gora
The Central Bank of Nigeria had in April orders Diamond Bank to freeze the account of the scheme. However, it seems there is more than meets the eyes on the saga.
Sources at Diamond Bank indicate there are no such funds as claimed by Cash Flow Global Fund Investment and its investors in the coffers of the bank.
Investors were said to have invested into a cryptocurrency which the source claimed was a virtual investment which the bank does not deal in and as a matter of fact, no Nigerian bank accepts nor process transactions in any globally accepted digital currency.
The National Assembly of Nigeria has waded into the matter by summoning Diamond Bank to testify on the matter.
The next few weeks would determine the fate of investors who might lose everything they had put into the scheme.