FAILED INVESTMENT SCHEME IN IBADAN CLAIMS TWO LIVES, INJURES SEVERAL
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By: Fasasi Hammad
At least two people have reportedly died, while several others have been hospitalized, following the collapse of an investment scheme in Ibadan, the capital of Oyo State.
Subscribers of the scheme, known as Agape Trade and Agape Thrift, revealed the details during a press conference held in Ibadan on Wednesday.
Spokesperson for the subscribers, Mr. Abiodun Ayobami Mustafa, stated that over 950 individuals invested in the scheme, which was founded by Mr. Enoch Adeoye. Mustafa noted that the scheme began in Ibadan in January 2024, and despite repeated attempts, investors have not received returns on their contributions since the first three months of operation.
He confirmed that two people lost their lives and several others were hospitalized due to the financial and emotional strain caused by the failed investment. Mustafa also highlighted the trauma and humiliation suffered by many investors as a result of the founder’s failure to honor payments.
The subscribers have submitted a petition to the Economic and Financial Crimes Commission (EFCC), urging the agency to investigate the matter thoroughly. Speaking to the EFCC, Mustafa said:
“We have 950 members who subscribed to this scheme. Many are based in Ibadan, with representatives of various subgroups here today, while others are spread across Nigeria. We have been waiting for over a year to receive returns on our investment. Payments were made during the first three months but stopped thereafter. All subsequent efforts to recover our funds have failed.”
He added:
“The establishment of the EFCC was aimed at curbing financial crimes that have eroded societal values and harmed innocent Nigerians. In our view, the actions of the scheme’s founder are illegal, unlawful, and constitute criminality under Nigerian law. We are respectfully requesting your office to investigate and prosecute the suspect if found culpable.”
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