A video circulating on social media has sparked allegations involving Flutterwave’s Global Head of Operations, Lucia Nwanze Okafor, and an online investment platform known as AACL Ever Trading, which has been accused of defrauding Nigerians through questionable stock investment offers.
The allegations were raised in a video featuring United States-based Nigerian crime-watch commentator Ikenga Uruagu, who claimed that the platform was connected to suspicious financial transactions involving hundreds of millions of naira.
Uruagu alleged that Okafor was involved in establishing AACL Ever Trading, a platform that purportedly attracted investors through WhatsApp groups and other social media channels with promises of access to foreign stocks at heavily discounted prices.
According to the account presented in the video, prospective investors were persuaded to deposit money in naira, with assurances that their funds would be converted into United States dollars for investment in international equities.
Trouble reportedly began when subscribers attempted to withdraw their investments and supposed profits. The platform was accused of restricting access to accounts, blocking withdrawals and demanding additional payments before funds could be released.
Similar complaints about AACL Ever Trading appeared on the Nigerian online forum Nairaland in September 2026, where a contributor accused the platform of misleading investors with fictitious trading profits and preventing withdrawals.
Alleged ₦558 Million Transaction Trail
In the second part of the video, Uruagu raised further allegations concerning the movement of funds through accounts allegedly associated with AACL Ever Trading.
He claimed that money received from investors was transferred rapidly into another account identified as belonging to FW Sing Glory Trading HK Limited. Citing purported financial records, the commentator alleged that approximately ₦158.1 million entered the AACL accounts on August 24, 2026.
He further claimed that the accounts received a combined ₦558.6 million between August 22 and September 15, 2026, with substantial sums subsequently transferred to the account identified as FW Sing Glory Trading HK Limited. Uruagu also alleged that Lucia Okafor was among the signatories to the receiving account, alongside two other individuals.
The commentator suggested that the initials “FW” in the account name represented Flutterwave, implying a connection between the fintech company and the transactions.
The video went beyond allegations of investment fraud, with Uruagu claiming that funds passing through the identified accounts were also connected to the financing of activities associated with the Biafra Liberation Army and the Eastern Security Network (ESN). He suggested that the alleged investment operation could have served as a channel for moving money intended for purposes other than stock trading.
These claims remain unsubstantiated. No independently verified financial intelligence report, official investigative finding or court document has been identified establishing that money collected by AACL Ever Trading was used to finance either organisation.
Uruagu also alleged that Flutterwave subsequently surrendered approximately ₦2.3 billion to the Economic and Financial Crimes Commission (EFCC), purportedly maintaining that it did not know the origin of the funds.
The specific allegation, including the amount, circumstances and supposed explanation attributed to Flutterwave, has not been independently confirmed through official EFCC records or a statement from the company.
Lucia Okafor’s position as Flutterwave’s Global Head of Operations is independently documented.
A December 2025 profile published by the Association of Chartered Certified Accountants identified her as the company’s global operations chief, noting that she joined Flutterwave in early 2025 following a career in financial services consulting and digital payments.
Flutterwave, founded in 2016 and led by Olugbenga Agboola, provides payment infrastructure to businesses operating across Africa and international markets. The company has previously been valued at more than $3 billion.
Nigeria’s Securities and Exchange Commission has repeatedly warned the public about unregistered investment platforms promoted through social media, particularly schemes offering unrealistic returns and restricting investors’ access to their funds.
