Ovaoiza Arrested Alongside Husband
Following charges that Ovaoiza swindled investors out of hundreds of millions of naira, FCT Police Command agents have detained prominent Agric entrepreneur Ovaioza Yunusa alongside her husband.
Ovaoiza was arrested on Monday, according to sources at the police headquarters. She was accused of “criminal breach of trust and cheating,” according to the sources.
She is currently in police custody and will be transferred to the State Police Command on Tuesday, according to reports.
Ovaoiza ran an agricultural food storage business in Nigeria called the Ovaioza Farm Produce Storage Business until she was arrested (OFPSB).
She was alleged to have 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.
Ovaoiza has been accused of leading a lavish lifestyle as more people invested in the company and it expanded into new sectors in the last year.
Why Ovaoiza Was Arrested
Ovaoiza’s company apparently went bankrupt in March 2022 after she was accused of mismanaging investors’ funds, resulting in her inability to pay investors a return on their investments.
She recognized the company was in trouble in a Facebook post on Saturday, but assured investors that their money would be returned.
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) (SEC).
Who is Ovaoiza?
Ovaoiza is a Nigerian lady and alleged “Ponzi Entrepreneur” whose real name is Imu Ovaioza Yunusa. She founded Ovaioza Farm Produce Storage Business (OFPB) and Ovaioza Skills Acquisition Center (OSAC).
Ovaoiza was born in Kogi State’s Okene Local Government Area. She, on the other hand, is said to be from Igara-Edo in Edo state. Igara Edo is located in the Akoko Edo Local Government Area of Edo State, and its residents are known as the Anetuno people, who speak Etuno.
Ovaioza was said to have carted away millions of investors money in a scheme that was allegedly purported by her. It involved the investors investing on farm produce and getting returns after some specified number of months. The lowest anyone could invest according to online sources was 500k naira.
Ovaioza was arrested on Monday April 18 2022 following an investigation to unravel her whereabouts. Her stories of obtaining money by fraudulent means has been trending on Facebook ever since.
One Facebook user wrote;
Ovaioza it’s the audacity for me. Even despite all this, she was still being proud and claiming right.
You had the temerity to call your investors poor people. But na poor people money you dey spend all this while BTW. Yes we are poor but atleast we no be tiff.
This girl deceived the people in this egusi group so much. They started holding 12am midnight prayers for her. Kept lying up and down about SEC.
Even before SEC issue started she was unable to pay investors. We did egusi storage with her for 6 months. Beginning of March, she said she has started selling the egusi, March 20th she told us all the egusi had been sold and payment will commence on March 21st. That was a monday. Monday, tuesday, Wednesday all we heard were stories. Then Thursday she announced the issue with SEC. She still came to egusi group and told us our money was not in the frozen account, that she has already told her accountant to commence payment that Thursday. Thursday, friday, saturday we didnt get any payment. Investors were getting angry and impatient and she
started with another lie – that our money was in the frozen account and she told her husband’s banker to loan her 10m to pay off egusi investors (bank overdraft), the banker initially agreed but later changed his mind and refused to loan her the money. Meanwhile the 10m would not have been able to settle them cos she’s owing egusi investors atleast 50m. Turns out there was no egusi money in any frozen account.
Insulted everyone who saw her lies and dared to speak against her 👇👇👇
Another user wrote;
Read very well.
Majority of my close friends I found out invested with her will not swear I didn’t disturb them from November last year to pull their money from Ovaoiza. I called those I knew invested. Chat them constantly. Disturb them morning till night. Everyday. I even asked them to forfeit 10% as she told them. A bird at hand is better than thousand flying.
They didn’t know why?
Perhaps I hate her or jealous.
She’s a scam. I saw it and started warning.
Many listened to me. Others made excuses for her. Some forwarded my screenshot where I was telling them that Ovaoiza is a scam, they should pull their money. They sent the screenshot to her circle, clique to buy more favour from her or to be seen as good people.
Those screenshots still came back to my table as the Abuja clique fly it amongst themselves to tag me a gossip. Amongst that clique, I am worst than devil. I want to take away food from their mouth as they all have share and partake in this scam. They, of course know I don’t care about their existence.
Imagine telling someone you care for to take away his or her money from a scammer, the person forward the screenshot to the circle of the same Ponzi scammer to call you names. Ezigbo mmadụ.
I saw those things and laughed. Na still their clique go leak am. This is why I said it’s dangerous to do clique on social media or joining any. Stay in your lane.
Now, those who forwarded those screenshots don’t even have the face to come to me.
Those trailer loads of garri she showed you guys bụ akụkọ ndị mgbu. She’ll go where they are offloading goods and do live video in the north and claim it belongs to her. Maybe get a few bags and write OVI to prove to you guys that she’s doing something.
There was never a business.
See this screenshot from one of the former partners.
Everything is premediated and planned. Not business gone wrong.
Ovaoiza Net worth
Ovaoiza Net worth – Ovaoiza Net worth is estimated to be around $200,000. She has a number of choice properties in Nigeria and has a series of buildings in the country to her name.