Ovaioza: Another Ponzi scheme bites the dust – Newstrends
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Ovaioza: Another Ponzi scheme bites the dust

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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.

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200,000 repentant terrorists surrender, drop arms in North East – CDS

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Chief of Defence Staff, General Christopher Musa

200,000 repentant terrorists surrender, drop arms in North East – CDS

The Chief of Defence Staff, General Christopher Musa, has disclosed that about 200,000 repentant terrorists have so far dropped their arms and surrendered to troops in the North East, noting that the twin strategy of kinetic and non-kinetic operations was responsible for this achievement.

The CDS made this known at the Security and Justice Symposium organised by the Office of the National Security Adviser (ONSA) in collaboration with the British High Commission, which began at the National Counterterrorism Centre in Abuja on Tuesday.

He disclosed that the theme of the symposium, ”Securing Peace, Ensuring Justice, Protection, Conduct, and Accountability,” speaks volumes about the deluge of security challenges the armed forces and security agencies are facing.

His words, “All the challenges we are facing today have to do with fairness, equity, justice, and accountability.

“There will not be peace without justice, equity, fairness, and accountability. In our operations, we are conducting both kinetic and non-kinetic strategies, which have to a large extent yielded significant successes, and we want to particularly thank the National Security Adviser for his great support in this regard.

“Nigeria is going through so many challenges, and we feel we’re able to address this, and everybody has a sense of belonging. A lot of the security challenges we are having, we are sure, will go down. I want to thank the National Security Advisor for all the support he’s given us, both the kinetic and the non-kinetic.

“We have said it; the kinetic aspect is just less than 30%. The non-kinetic has a lot to play. The non-kinetic, because when you have democracy, people must have the evidence of democracy. As long as it tells people to sleep well and be peaceful, and they are hungry, their children cannot eat, and all this creates more problems.

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“The issue of informants. We have to look at how we tackle this issue of informants. Because these are the people who have created the issue.

200,000 repentant terrorists surrender, drop arms in North East – CDS

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Robbers kill two members in shoot-out with Delta police

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Robbers kill two members in shoot-out with Delta police

The spokesperson for the police in Delta State, SP Bright Edafe, has confirmed the death of two robbery suspects in the state.

Mr Edafe, who disclosed this to journalists on Tuesday in Warri, said that the deceased were killed from the bullets shot by their gang members.

According to him, the incident occurred on Wednesday at Effurun, Uvwie Local Government Area of the state.

Mr Edafe explained that the deceased were leading the police surveillance team attached to the Ekpan Division to their hideout when they were caught during a shoot-out.

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“The suspects were arrested at Effurun roundabout with a bag containing 57 live cartridges and other items. They were leading the surveillance team to their hideout at Warri/Sapele road when their gang members, on sighting the vehicle of the police team, engaged them in a shootout.During the gun duel, the arrested suspects that were leading the police team were fatally wounded by the gun shot of their colleagues. The two injured suspects were taken to the hospital and later died while receiving treatment,” he said.

Mr Edafe said that items recovered from the hoodlums hideout included: one English pump action gun, one locally made cut-to-size gun and eight live cartridges.

Others were: six iPhones, Smart phones and a Rolex wrist watch.

He said that the command had intensified manhunt on the fleeing members of the gang.

 

Robbers kill two members in shoot-out with Delta police

(NAN)

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Akwa Ibom businessman abducted, driver killed, police orderly injured

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Dr. Samuel Ekerenam
Akwa Ibom businessman abducted, driver killed, police orderly injured
Gunmen kidnapped a prominent businessman, Dr. Samuel Ekerenam and k!lled his driver in Eket town, the headquarter of Eket Local Government Area of Akwa Ibom State.
Ekerena, the owner of Hephzibah Mall, was abducted about 10:00pm on Saturday, 23 November, 2024.
It was gathered that the gunmen trailed the victim to the shopping complex, shooting sporadically to scare the passers-by away before whisking him away to an unknown destination.
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The body of Ekerenam’s driver was discovered in the pool of his blood, while his police orderly was severely wounded in the gun attack.
The spokesperson of the State Police Command, ASP Timfon John, who confirmed the incident on Monday, November 25, said the Commissioner of Police, CP Joseph Eribo has deployed tactical operatives to comb for the abducted businessman.
The PPRO added that the police were on top of the game and very soon the kidnap victim would be rescued and the perpetrators made to face the full weight of the law.

Akwa Ibom businessman abducted, driver killed, police orderly injured

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