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Ovaioza: Another Ponzi scheme bites the dust

Published

3 years ago

April 23, 2022

Until her arrest, Imu Ovaioza Yunusa, who is the founder and CEO of Ovaioza Farm Produce Storage Business (OFPSB) was accused of being a ‘fake entrepreneur’ who defrauded unsuspecting Nigerians of billions of naira.

During the week, she was apprehended by operatives of the Force Criminal Investigation Department (FCID), Abuja.

Her company claims to engage in processing, storage, distribution and retailing of farm produce such as garri and plantain. Ovaioza also co-owns Ovaioza Skills Acquisition Center (OSAC) and Relax and Chill.

The lady who is a verified Facebook influencer with over 140,000 followers allegedly scammed her people to the tune of N3 billion. She was alleged to have bought multiple houses.

Just like other Ponzi gurus in Nigeria, Ovaioza whose name never resonated before, suddenly had sudden lifestyle upgrade, lived lavishly in expensive apartments, and dressed in the best designer clothes.

She was given the nickname ‘Facebook Yahoo Girl’ on social media platforms after several billions of naira in the investment scheme went down the drain.

The entrepreneur allegedly hoodwinked millions of Nigerians to invest in her farm storage business.

Ovaioza was constantly on her social media pages – especially Facebook – disguising her real personality, preaching about love, kindness and other moral values. In one of her many posts, she talked about being a fan of love and kindness. “I am very big on love, loyalty, trust, and kindness,” she posted.

She started off disguising as a philanthropist, doing giveaways on social media. Then in 2017, Ovaioza released a gospel song titled ‘Holy Are You Lord’ under the stage name ‘Ovai4Jesus’.

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Her brief profile states she was born on 30 December, 1993, and started her academic journey at the College of Arabic and Islamic Studies, Okene, Kogi State. She furthered her education at the School of Nursing and Midwifery, Nasarawa State, Bayero University, Kano, where she bagged a Bachelor’s Degree in Biology Education.

Ovaioza offered investors a huge return on investment, but in the past months, she defaulted, neither paying partners their profits nor returning their capital. She reportedly refused to answer enquiries, and this led to people reporting her to security operatives.

Responding, Ovaioza denied on allegations on her official Facebook page that she defrauded numerous investors to the tune of several billions of naira. She claimed that issues with the Securities and Exchange Commission (SEC) were affecting her business and her account.

“My lawyer duly reached out to SEC and reported back to me (I was not the one who went to SEC) that SEC said they don’t regulate buying and selling. I must also admit that maybe we should have made a written application requesting for SEC to register my business, but unfortunately, we did not do so,” the statement read in part.

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She claimed that ignorance as a trader made her not seek out SEC previously.

“I must admit my ignorance as to the extent of corporate compliance that is necessary for my buying and selling business, especially as the business grew, owing to funds sought from the public,” she said.

“Again, I am only a trader, versed in the craft of buying and selling, but a lay man in the legal expectations and commitment from such business.

“However, when it was brought to my notice my business requires registration with Securities and Exchange Commission (SEC), I asked my lawyer to reach out to SEC to ensure the needful was done. I did this to ensure that my interest and the collective interest of my partners are protected by law.”

Ovaioza also runs OFPSB, a food storage business, through which she crowdfunds to buy foodstuff during the harvest season, stores it and sells it during the planting season. According to her, partners’ profits are undefined and not fixed.

While her investment ‘business was still booming’, she ‘hired’ several social media influencers and content creators to help promote her ‘brand and business’.

In January, House of Representatives had warned that Ponzi scheme promoters risk jail term, the EFCC also warned Nigerians to steer clear of suspicious ‘investment opportunities’ that sound too good to be true.

THE NATION

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Police rescue 13 kidnap victims, arrest five suspected robbers

Published

12 minutes ago

December 29, 2024

Trends Admin

Police rescue 13 kidnap victims, arrest five suspected robbers

Police Rescue 13 Kidnap Victims in Lagos and Kwara

In the past week, the Nigeria Police Force (NPF) successfully rescued 13 individuals who had been abducted and held for ransom in Lagos and Kwara states.

The operation underscored the police’s commitment to combating kidnapping, armed robbery, and other criminal activities nationwide.

A statement issued on Sunday by the Force Public Relation Officer, ACP Olumuyiwa Adejobi said: “In a determined effort to sustain the fight against kidnapping, armed robbery, and other forms of criminality across the country, operatives of the Nigeria Police Force have further intensified and reinvigorated their strategies, resulting in the successful rescue of numerous victims and the apprehension of several suspects.

“Over the past week, coordinated operations were conducted in various states, including Lagos and Kwara States, leading to the rescue of 13 individuals who had earlier been kidnapped and held for ransom, and the arrest of several armed robbery suspects.

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“On the 27th of December 2024, Police operatives attached to the Kwara State Command mobilized and stormed a den of kidnappers in the Idofin-Igbana area of the state, after receiving a distress call of the abduction of 13 persons. The operatives encountered resistance from the kidnappers but successfully overpowered the kidnappers, causing them to flee the scene with various degrees of injuries and leading to the successful rescue of the 13 kidnapped victims.

“Similarly, on the 28th of December 2024, following a report of a public disturbance at Pinnacle Depot, Lekki, Police operatives attached to the Lagos State Command visited the scene and accosted two individuals identified as Lawan Mustapha ‘m’ 38 years, and Aina Daniel ‘m’ 38 years. A thorough search was carried out, resulting in the recovery of one double-barrel rifle, 90 live cartridges, and five model rifles.

“The suspects are currently in custody for further investigation and possible prosecution. Furthermore, on the same day, at about 12:45 PM, Police operatives of the Lagos State Command arrested 3 suspected armed robbers at GRA Ikeja. A subsequent search led to the recovery of 1 locally made pistol, 4 live cartridges, and 2 cutlasses. These suspects are likewise in custody and will face prosecution upon the conclusion of the investigations”.

He said the Inspector-General of Police, (IGP) Kayode Egbetokun, has reiterated the Force’s commitment to ensuring the safety and security of all citizens.

Egbetokun said the Force will continue its operations, leveraging all available resources to eradicate these heinous crimes from our society.

He said the Nigeria Police Force remains resolute in its mission to create a safer environment for all Nigerians.

Police rescue 13 kidnap victims, arrest five suspected robbers

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El-Rufai accuses Tinubu govt of Yoruba agenda, Reno Omokri reacts

Published

43 minutes ago

December 29, 2024

Trends Admin

Former Kaduna State Governor, Nasir El-Rufai and Reno Omokri, former presidential aide

El-Rufai accuses Tinubu govt of Yoruba agenda, Reno Omokri reacts

Reno Omokri, a former presidential aide, has refuted allegations by former Kaduna State Governor, Nasir El-Rufai, suggesting that President Bola Tinubu is advancing a “Yorubacentric” agenda in his appointments within the Nigerian National Petroleum Company Limited (NNPCL) and the financial sector.

In a detailed analysis shared on social media, Omokri dissected the composition of key federal appointments, particularly within the NNPCL, to debunk claims of ethnic favouritism.

Omokri shared the current structure of the NNPCL Board:

Chief Pius Akinyelure (Non-Executive Board Chairman): Southwest
Mallam Mele Kolo Kyari (Group CEO): Northeast
Adedapo Segun (Chief Financial Officer): Southwest
Mr. Ledum Mitee (Non-Executive Director): South-South
Mr. Musa Tumsa (Non-Executive Director): Northeast
Mr. Ghali Muhammad (Non-Executive Director): North-Central
Prof. Mustapha Aliyu (Non-Executive Director): Northwest
Mr. David Ogbodo (Non-Executive Director): Southeast
Ms. Eunice Thomas (Non-Executive Director): South-South
Omokri emphasized that only two board members hail from the Southwest, contrary to claims of ethnic dominance.

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He also reviewed executive oversight at the cabinet level:

Heineken Lokpobiri (Minister of State for Petroleum Resources – Oil): South-South
Ekperikpe Ekpo (Minister of State for Petroleum Resources – Gas): South-South
Ambassador Nicholas Agbo Ella (Permanent Secretary, Petroleum Resources): North-Central

According to Omokri, the South-South enjoys the most significant representation, both at the board and executive levels.

Omokri also addressed leadership within the top revenue-generating agencies in Nigeria:

NNPCL: Mele Kyari (Northeast)
Nigerian Ports Authority: Abubakar Dantsoho (Northeast)
Federal Airports Authority of Nigeria: Olubunmi Oluwaseun Kuku (Southwest)
Nigerian Communications Commission: Aminu Maida (Northwest)
Nigerian Maritime Administration and Safety Agency: Dayo Mobereola (Southwest)
Nigerian Deposit Insurance Corporation: Bello Hassan (Northwest)

He noted that out of these six agencies, only two are led by individuals from the Southwest.

Omokri accused El-Rufai of engaging in “ethnic baiting” and spreading misinformation. He warned that such claims if left unchallenged, could create unnecessary tensions and destabilize market confidence.

“Flowing from the above, where is the Yorubanisation or Yorubacentricity?” Omokri queried.

El-Rufai accuses Tinubu govt of Yoruba agenda, Reno Omokri reacts

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Farotimi appreciates Nigerians, says his release was due to public outcry

Published

54 minutes ago

December 29, 2024

Trends Admin

Dele Farotimi

Farotimi appreciates Nigerians, says his release was due to public outcry

Human rights advocate Dele Farotimi was overcome with emotion as he reflected on the collective voice of Nigerians that he said saved his life from detention.

Speaking on Sunday via YouTube and spreading on X, Farotimi attributed his freedom to the unflinching support of Nigerians who stood by him during his experience.

“We stopped being human because we became Nigerians. They divided us, and we fell for it.

“Because you wouldn’t see me as a Yoruba man, you spoke for me. Because you wouldn’t see me as a Christian, you spoke for me. Nigeria couldn’t happen to me because you spoke,” Farotimi said.

He emphasised the power of unity in the face of oppression, saying, “You found your voices. I became you. And in our collective, you couldn’t be silenced.”

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Farotimi was released after being arrested on December 3 by police from the Ekiti State Police Command on accusations of defamation and cyberbullying.

The arrest followed claims made by noted legal luminary and Senior Advocate of Nigeria, Aare Afe Babalola, who accused Farotimi of defaming him in a 116-page book titled Nigeria and Its Criminal Justice System.

According to the police, the book claimed that Babalola and other Senior Advocates of Nigeria (SANs) had corrupted Supreme Court Justices.

These allegations led to Farotimi’s arraignment in an Ekiti State Magistrate Court, followed by 12 further charges filed by the Inspector General of Police, Kayode Egbetokun, at an Ekiti Federal High Court on December 6.

On December 21, the magistrate court granted Farotimi bail with strict restrictions, including a N30 million bond, two sureties (one of whom must possess property), forfeiture of his passport, and a prohibition on media interviews following his release.

Farotimi maintained his innocence, telling journalists that he had never lied against anyone.

“It is not ever an easy journey when you are fighting evil. Some years back, before I started this work, God told me that the truth is enough. It is the only weapon with which you can slay the monster called Nigeria,” he stated.

He added, “In my war against the evil empire that we all live in, I have never lied against anyone. If I don’t know, I will say I don’t know.”