No fewer than 950 investors have reportedly lost over $200,000 to another Ponzi scheme in Ibadan, the Oyo State capital.
The development, as made known by some of the investors at a press conference in Ibadan, yesterday, has resulted in the death of two persons while some are bedridden.
Speaking on behalf of the investors, Mr. Abiodun Ayobami Mustafa, said they were lured into the investment by one Enoch Adeoye and his cohorts at Agape Trade and Agape Thrift, stating that they were assured of mouth watering returns on the minimum investment of 200 dollars.
According to him, “We were initially drawn to Agape Thrift and Agape Trade through various channels but not limited to street marketers, eye catching fliers and persuasive online adds.
“We were made to believe that it is not a Ponzi scheme but government recognised investment scheme.
“Not up to one tenth of the investors were able to collect a two month return on their investment which runs to millions of naira.
“After the initial payment on the deposit, the operational office at Ago Tapa, Mokola has been put under lock and key while the whereabouts of the man in charge remains unknown.”
He disclosed that the development has necessitated their officially writing a petition to the Economic and Financial Crimes Commission (EFCC) through the Ibadan zonal office.
The investors, in their petition, called for a comprehensive investigation into what they described as a criminal act and demanded the prosecution of anyone found responsible for the alleged offence.
The petition, signed by Dapo Akinosi of Swift Magnate Solicitors and LP, stated that about 950 members invested in the scheme, with participants spread across Ibadan and other parts of Nigeria. According to the document, investors received returns for only the first three months before payments stopped, and all subsequent efforts to recover their investments have been unsuccessful. The prolonged delay, which has lasted for over a year, prompted the affected investors to convene a press conference to draw attention to their plight.
The petition further referenced the mandate of the Economic and Financial Crimes Commission (EFCC), noting that the agency was established to combat financial crimes that undermine the nation’s image and erode societal values. The investors argued that the alleged actions of the suspects were unlawful and criminal in nature, and urged the EFCC to exercise its constitutional powers to investigate the matter, apprehend those involved, and ensure appropriate prosecution where culpability is established.