The Federal Capital Territory (FCT) Police Command has arrested the mother of Ovaioza Yunusa, over her complicity in allegedly defrauding Nigerians who invested in her daughter’s acclaimed food storage business.
Police sources confirmed to this website that Ovaioza’s mother was arrested upon discovery that she was a director in the alleged fraudulent scheme that swindled billions of investors’ funds.
“The mother was arrested on Tuesday. We discovered she was a director in the daughter’s business and the command is now handling the case,” the source told this website.
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The 29-year-old lady with numerous businesses to her name had set up an Agro business called Ovaioza Farm Produce Storage Business (OFPSB), where many Nigerians through her verified Facebook page, entrusted a large amount of money for trading and storage of farm produce.
She had also promised investors between 70 per cent to 80 per cent return on investment while constantly keeping them updated on their investments on her page where she gained visibility and trust of would-be investors by telling stories of her supposed personal life.
In two years, Yunusa had allegedly grown and expanded her chain of investors, with billions of naira reportedly invested in the buying, selling and storage of produce including Plantain, Garri, Egusi, Corn, Rice, Charcoal, and Cashew among others.
By 2022, many investors had reportedly accused her of mismanaging funds, leading to her inability to pay investors return on their investments. She was also accused of living a lavish lifestyle.