NEWS
FRAUD: Ovaioza Group Boss arrested for running a Ponzi scheme
The Nigeria Police has arrested one Imu Yunusa, 28, the CEO of Ovaioza Group of Companies, for allegedly being involved in a Ponzi scheme cum criminal breach of trust and cheating.
The suspect is reportedly co-owner of Ovaioza Farm Produce Storage Business (OFPSB), a company registered with CAC and very popular on social media. It deals with Farm products such as processing, storing, and distribution of Garri, plantains, etc.
Imu Yunusa, CEO of Ovaioza Group of Companies
She argues that having registered with the Corporate Affairs Commission (CAC), she was not aware that she was also required to register with the Securities and Exchange Commission (SEC).
Ovaioza Skills Acquisition Center (OSAC) and Relax & Chill are both co-owned by Ovaioza.
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)
Yunusa is currently in police custody and will be transferred to the State Police Command on Tuesday, April 19, 2022, according to The Whistler.
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Trouble started for Yunusa after she allegedly created a partnership plan for her business that guaranteed investors a 70-80% return on investment on her Facebook page.
Following the introduction of this scheme, she was able to gain the heart of many of her followers, with the investing and entrusting their money to her while keeping them up to date on their investments on her verified Facebook page, gaining more 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.
She is alleged to have bought a house in the US for $400K. She applied for Investment Visa to get her Green Card in the US which costs about $1Million.
She bought her Plaza in Abuja for N600M Investor and spent millions buying trucks, infrastructure, and some other things.
She also spent millions buying cars for her friends and doing reckless giveaways.
Ovaioza who offered investors a huge return on investment 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.
According to reports gathered by Biztellers, Ovaioza allegedly collected N3Billion from investors.
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.
A tweet, @EstherIjewere alleged that some investors put in as much as N36 million in Ovaioza’s care.
“How she managed to fool people on Facebook should be studied. Ovioza scammed people to the tune of 3billion naira with her storage PONZI scheme. I’m all about women supporting women but this sister right here didn’t show love to other women. Some invested up to N36M!!!”
A secondary schoolmate of Ovaioza identified as Okey Aliyu shared some information about her while they were in high school.
In his words: “On Ovaioza, I want to share a secret I have kept away for long.
“I guess most of you didn’t know that I knew Ovaioza right from our secondary school days. Her closest friends then were Hrh Henry Prosper and Blessing Duru. The name
“wire wire” was given to her by our Biology teacher Mr. Joseph.
“I know she might have defaulted in her business but she is not as bad as most of you painted her truth be told. She has a good heart and was ever ready to give even from her last penny.
“Before we wrote our WAEC, she struggled to pay her school fees because according to some of her closest friends, they said she was from a poor home. But that didn’t discourage her from taking school seriously. We wrote JAMB in the same center back then at Okene Kogi state before we lost contact.
“When i saw her pulling weight a few years ago online, I quickly did underground research. I went to her house at Lugbe when I visited Abuja for a contract. She personally came to the airport to drive Hilary Knox and me to our hotel room… Ehhh, na story wey no happen I won dey share now… I no Sabi the ekperima ooo
Born Ovaioza Yunusa on December 30, 1993, in the Okene Local Government Area of Kogi State.
She studied Arabic and Islamic Studies at the College of Arabic and Islamic Studies in Okene.
Ovaioza also reportedly attended the School of Nursing And Midwifery in Nasarawa State and Bayero University in Kano State.
Edo State Governor, Senator Monday Okpebholo has inaugurated three new governing councils for Institutions and Agencies in the state.
The establishments with newly governing councils are Persons with Disabilities, Edo University, Iyamho and Edo State House of Assembly (EDHA) Service Commission.
After inaugurating the three groups in the new Festival Hall in Government House, Benin City, Okpebholo charged the new appointees to discharge their duties effectively and efficiently.
The Governor said the task for the newly-inaugurated bodies is enormous and charged them to discharge their duties and responsibilities according to the law governing the State.
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“We are all here because of this event today as my administration has carefully selected those we are inaugurating today to collaborate with us to pilot the affairs of the State and contribute to its development.
“We have carefully selected great minds to run the affairs of Edo State House of Assembly Service Commission believing they will bring the needed change required to develop Edo State,” he said.
To the members of the Governing Council Edo State Commission for Persons with Disabilities, led by the chairman, Theophilus Egbodion, the Governor said that despite their challenges, his administration would not discriminate against anybody.
“There is no discrimination in this administration. We are all one working to achieve our common goal, which is to develop Edo State. The situation you find yourselves is not made by you but caused by circumstances and with you in our Government, we will relate with others very well. You are not disabled in mind as I promise to work with you as all your requests will be looked into.”
For the governing council of Edo State University Iyamho, led by Prof. Olusegun Akinyinka, the Governor, said the members chosen by his administration were a well-calculated move to bring credible people with proven characters to govern and move the school forward.
“Your choice is deliberate as we believe that with your experience, the school will do very well. As we inaugurate you today, the university will experience a new dawn such that the school will assume an enviable height,” he stated.
Okpebholo said the task ahead of the newly-inaugurated members is enormous and “I charge you to discharge your duties and responsibilities according to the law governing the State. I want to thank and welcome you to the fold.”
Responding, the chairmen, Edo State House of Assembly Service Commission, Hon. Ezehi Igbas; chairman Governing Council Edo State commission for persons with disabilities, Egbodion; and Chairman Governing Council of Edo University, Iyamho, Prof. Olusegun Akinyinka thanked the Governor for finding them and their team worthy of the appointments and promised to support and collaborate with the administration to succeed.
The Heads of Local Government Administration (HLGAs) in Rivers State have been thrown into a state of anxiety following a directive from the Sole Administrator of the state, Vice Admiral Ibok-Ete Ibas (rtd), ordering them to submit reports detailing the activities of their councils over the past two years.
The directive, issued through a letter from Dame Dr. Itong Awani, Permanent Secretary of the Ministry of Local Government Affairs, mandates that the reports be submitted by Wednesday, March 26, 2025.
The sudden call for accountability has unsettled many LGA heads, particularly given the political backdrop in Rivers State.
Following the Supreme Court ruling that invalidated the 2024 local government elections, suspended Governor Siminialayi Fubara had directed the HLGAs to take over local government administration.
READ MORE:Lawyer Petitions Court To Declare Rivers Sole Administrator’s Appointment Null
Now, the administrator’s demand for a comprehensive report has sparked speculation about potential changes in the councils’ leadership.
The letter, which only became public on Wednesday, outlined specific areas the reports must cover. According to the directive, HLGAs must provide: Introduction/Preamble, Functions of the Council, Number of Staff on Nominal Roll (categorized by cadre), Sources of Revenue Generation, Activities, Ongoing, and Completed Projects in the Past Two Years, Achievements of the Council, Challenges and Recommendations.
The letter emphasized the urgency of compliance, stating: “His Excellency, the Sole Administrator of Rivers State has directed that all Heads of Local Government Administration should submit the report of their councils to the office of the Permanent Secretary, Ministry of Local Government Affairs.
“I am also to inform you that all submissions using the format listed below should reach the office of the undersigned on or before Wednesday, 26th March, 2025, for onward transmission to the office of the Sole Administrator, Government House, Port Harcourt for further necessary action.”
Additionally, the directive instructs LGA heads to highlight the challenges faced by their councils and provide recommendations on how to address them.
A fire outbreak on Tuesday night severely damaged a two-storey commercial building on Iweka Road, near Ochanja Main Market in Onitsha South Local Government Area of Anambra State.
Confirming the incident on Wednesday, the Anambra State Fire Service said it received a distress call at around 9:35 p.m. and immediately dispatched firefighters to the location.
Fire Chief Chukwudi Chiketa told the News Agency of Nigeria (NAN) that the cause of the fire was yet to be determined.
READ ALSO: Billions Lost As Fire Razes Kano Market, Recycling Hub
“We don’t know the exact cause of the fire, but we were called to respond, and we did,” he said.
He further disclosed that four shops, mainly dealing in furniture materials such as leather and foam, were affected.
“These shops contained furniture materials such as leather, foam, and other items,” he added.
The firefighting team worked tirelessly through the night, eventually withdrawing from the scene around 3:05 a.m.
In the aftermath, residents and traders gathered at the site, attempting to salvage whatever remained of their goods.
Okpebholo Inaugurates Three Governing Councils
Kunle Remi, Wife Welcome First Child After Challenging Journey
Rivers Sole Administrator Orders LGAs To Submit Two-Year Reports
Fire Ravages Two-Storey Commercial Building In Anambra
State Of Emergency Resonates In Edo State
