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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Wike Clarifies ‘Shoot’ Remark About TV Anchor

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Federal Capital Territory (FCT) Minister, Nyesom Wike
FCT Minister, Nyesom Wike

Wike Clarifies ‘Shoot’ Remark About TV Anchor

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has moved to quell the controversy trailing his recent remarks about Seun Okinbaloye of Channels Television, insisting that his comments were taken out of context and never intended as a threat.

Wike had sparked public outrage after stating during a media engagement that he would have “broken his TV screen and shot” the television anchor over comments suggesting that a one-party system could undermine Nigeria’s democracy. The remark drew swift condemnation from civil society groups, including Amnesty International, which described the statement as “reckless and violent.”

However, in a statement issued on Saturday and signed by his media aide, Lere Olayinka, the minister said the comment was merely a figure of speech expressed in anger and not a literal threat.

According to the statement, Wike had already clarified his position during the same live television programme where the remark was made, stressing that he had no intention whatsoever of harming Okinbaloye.

“The minister never meant that he would shoot Seun Okinbaloye,” the statement read. “They even spoke on the phone today, and he (Okinbaloye) clearly understood what the minister meant.”

Olayinka explained that Wike’s frustration stemmed from what he perceived as a departure from journalistic neutrality by the anchor, whom he said the minister holds in high regard.

“What the minister meant, which he made clear during the media chat, was that he was displeased seeing Okinbaloye—whom he respects as a journalist—descending into the political arena by speaking as an interested party, rather than maintaining the role of an interviewer,” the statement added.

The aide further described the controversial remark as “hyperbolic,” noting that it was an exaggeration used to emphasise the minister’s displeasure and not an expression of violent intent.

He also pointed out that other journalists present during the interview, including Chamberlain Uzor, reportedly treated the comment lightly, with laughter following Wike’s clarification on air.

“Even after the minister explained himself during the live programme, including stating clearly that he did not mean he would carry a gun to shoot the anchor, the context was well understood by those present,” Olayinka said.

The statement accused critics of deliberately misrepresenting the minister’s words for political purposes, warning against what it described as attempts to weaponise the comment for “blackmail and propaganda.”

“The public is therefore urged to disregard attempts by individuals or groups to twist the minister’s statement out of context in pursuit of political gains,” the statement concluded.

The incident has continued to generate debate within Nigeria’s media and political space, raising broader concerns about the tone of public discourse and the responsibilities of public officials in their engagements with the press.

Wike Clarifies ‘Shoot’ Remark About TV Anchor

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Autopsy Confirms Destiny Boy Died from Toxic Substances

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Afrofuji singer Afeez Adesina, popularly known as Destiny Boy
Afrofuji singer Afeez Adesina, popularly known as Destiny Boy

Autopsy Confirms Destiny Boy Died from Toxic Substances

The tragic death of 22-year-old Afrofuji singer Afeez Adesina, popularly known as Destiny Boy, has been clarified following the release of his official autopsy report. The findings confirm that toxic substances, including tramadol and methamphetamine, were present in his system and played a critical role in his untimely passing.

Destiny Boy passed away on January 17, 2026, a loss that sparked intense speculation on social media, with videos circulating showing his body being transported to a mortuary. These clips fueled public concern and rumours about the circumstances of his death. (pmnewsnigeria.com)

According to the Ogun State Police Command, the Homicide Section of the State Criminal Investigation Department (SCID) carried out the autopsy. The toxicology report detected dangerous levels of tramadol, its metabolites, and methamphetamine in Destiny Boy’s body. The official cause of death was determined to be aspiration pneumonitis, a severe lung inflammation resulting from the ingestion of these substances. (lindaikejisblog.com)

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DSP Babaseyi Oluseyi, Police Public Relations Officer, confirmed that at least one suspect has been arrested in connection with the singer’s death and that investigations are ongoing. The police emphasized that the case remains under careful examination to determine all contributing factors.

Destiny Boy, who first gained recognition in 2019 for his Fuji rendition of Davido’s “If”, later covered popular tracks by Tekno, 2Baba, 9ice, and Small Doctor. His original songs, including Lamba, One Transaction, Gbese, Billion Dollar, Mio Gbonkankan, and Lowkey, solidified his rising fame in Nigeria’s music industry. He also welcomed his first child with partner Iremide in November 2024.

The autopsy report has provided much-needed clarity after months of uncertainty and public debate surrounding Destiny Boy’s sudden death, highlighting the dangers of substance misuse among young entertainers. Fans and industry colleagues have expressed deep sorrow while advocating for awareness on drug safety and mental health support in the entertainment industry. (tell.ng)

Autopsy Confirms Destiny Boy Died from Toxic Substances

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DHQ Reveals Over 60% of Terrorist Fighters Not Ideologically Driven

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Brigadier General Yusuf Ali, National Coordinator of Operation Safe Corridor (OPSC)
Brigadier General Yusuf Ali, National Coordinator of Operation Safe Corridor (OPSC)

DHQ Reveals Over 60% of Terrorist Fighters Not Ideologically Driven

The Defence Headquarters (DHQ) has disclosed that more than 60 percent of terrorists and armed fighters in Nigeria are not motivated by ideology, but are individuals who were coerced, abducted, or caught up in conflict dynamics. The military says this highlights the need for tailored deradicalisation, rehabilitation, and reintegration programmes to address insecurity across the country.

Brigadier General Yusuf Ali, National Coordinator of Operation Safe Corridor (OPSC), revealed during a press briefing in Abuja that many individuals surrendering from armed groups such as Boko Haram and its splinter factions are low-risk combatants often forced into violent networks due to survival, economic pressures, or coercion. According to OPSC data, thousands of former fighters have been successfully rehabilitated and reintegrated into society since the programme’s inception in 2016.

Launched in 2016, Operation Safe Corridor is a federal government-led non-kinetic counter-insurgency programme coordinated by the DHQ in collaboration with agencies including the Ministry of Justice and Nigeria Police. The initiative encourages voluntary surrender, provides deradicalisation training, and facilitates reintegration into civilian life.

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General Ali emphasised that the programme is evolving to address regional realities and cater to the specific needs of affected communities. He said new plans include establishing Victims’ Rehabilitation and Reintegration Camps in the North-West and North-Central regions, such as the DRR camp in Tsafe, Zamfara State, and a planned facility in Benue, to help victims of violent extremism recover from trauma, displacement, and loss.

“The programme is evolving to become more victim-sensitive,” Ali said. “Sustainable peace cannot be achieved if victims of conflict feel neglected. Many live with deep psychological scars, and addressing that trauma is as important as rehabilitating ex-combatants.”

The OPSC Coordinator also stressed that misconceptions about the programme persist. He clarified that OPSC is not amnesty, not a shortcut to evade justice, and not a recruitment pathway into the Armed Forces. The government is working to enhance public understanding through stakeholder engagement, media campaigns, and partnerships with agencies such as the Office of the Special Presidential Envoy on Reconstruction and Rehabilitation.

Experts say that understanding that the majority of fighters are not ideologically committed could help shape more effective deradicalisation and reintegration strategies, addressing root causes like coercion, poverty, lack of education, and social exclusion. The DHQ’s findings underscore the importance of combining military operations with community-focused rehabilitation to achieve lasting peace in conflict-affected regions.

DHQ Reveals Over 60% of Terrorist Fighters Not Ideologically Driven

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