Ponzi: Police Arrest Agric Entrepreneur, Ovaioza Accused Of Defrauding Investors

The Police have arrested Imu Ovaioza Yunusa, the CEO of Ovaioza Group of Companies, for alleged ponzi scheme.

The suspect, 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.

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

The case is being handled by the Force Criminal Investigations Department (FCID).

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.