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Police Arrests Ovaioza A Popular Agric Entrepreneur

Published by on April 19th, 2022.


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Abuja Police Arrest Ovaioza A Popular Agric Entrepreneur Accused Of Defrauding Investors

Following charges that she swindled investors out of hundreds of millions of dollars, FCT Police Command agents have detained prominent agric entrepreneur Ovaioza Yunusa.

Yunusa was arrested on Monday, according to sources at the police command. She was accused of “criminal breach of trust and cheating,”

She is currently in police custody and will be transferred to the State Police Command on Tuesday, according to reports.

Yunusa 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.

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Yunusa 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.

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Why Ovaioza Was Arrested

The 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 recognised 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).

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