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How Ovaioza scammed many of billions in the name of agro-business

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The suspect, Imu Ovaioza Yunusa, the CEO of Ovaioza Group of Companies, popular on Facebook, is the (co)owner of Ovaioza Farm Produce Storage Business (OFPSB).

The company engages in processing, storage, distribution and retailing of farm produce such as garri and plantain.

Ovaioza, who got married earlier in the year, is accused of scamming hundreds of people’s money running into billions of Naira.


Yunusa, who was arrested on Monday, April 18, and taken to the police headquarters, handled by the Force Criminal Investigations Department (FCID)

She was accused of “criminal breach of trust and cheating.”

Yunusa is currently in police custody and will be transferred to the State Police Command on Tuesday, April 19, 2022, according to The Whistler.

Trouble started for Yunusa who ran an agricultural food storage business in Nigeria called the Ovaioza Farm Produce Storage Business, after she allegedly created a partnership plan that guaranteed investors a 70-80% return on investment while keeping them up to date on their investments on her verified Facebook page, gaining attention and confidence from potential investors.

Yunusa, shortly after the investment scheme blossomed was accused of leading a lavish lifestyle, after the company expanded into new sectors last year.

In March 2022, Yunusa was accused of mismanaging investors’ funds, after the company went bankrupt, resulting in her inability to pay investors a return on their investments.

She, via her Facebook post on Saturday, April 16, 2022, assured investors that their money would be returned.

She was allegedly planning to leave the country with her husband, David, when the officers apprehended her in Abuja on Monday.

She said that she had registered OFPSB with the Corporate Affairs Commission (CAC) but was unaware that she also required to register with the Securities and Exchange Commission (SEC).

Ovaioza offered investors a huge return on investment. She once claimed to have bought a plaza in the nation’s capital for more than N500million.

The same property was put on sale for N500million on a trading website after it expired.

Ovaioza also co(owns) Ovaioza Skills Acquisition Center (OSAC) and Relax and Chill.

Born December 30, 1993, she hails from Okene Local Government Area of Kogi State and attended College of Arabic and Islamic Studies in Okene.

Ovaioza also reportedly attended School of Nursing And Midwifery in Nasarawa State and Bayero University in Kano State.

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