Reported as a scam / unregulated
Why OBAFOREX is on the register
OBAFOREX is not a reliable broker for traders even though it states offers that look good to be true. OBAFOREX claims to be duly registered with the Corporate Affairs Commission in Nigeria (CAC) with Registration Number: RC: 3005196. But please be informed that CAC is not a regulatory body that regulates forex. Besides, Nigeria currently does not have any regulatory bodies that issue licenses for forex trading or regulate entities engaging in forex. The truth is that OBAFOREX is not under valid regulation to do forex by any regulators. Investors’ funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.