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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, Monday Okpebholo, has expressed appreciation to President Bola Tinubu and the Minister of Works, David Umahi, for their intervention in the rehabilitation of major Federal roads across the state.
Okpebholo made the remarks during an inspection tour of key Federal road projects in Edo State alongside Umahi, where he commended the Federal Government’s attention to the state’s critical road infrastructure.
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The governor said residents of Edo were pleased with the intervention, urging them not to be distracted by criticisms of the Federal Government on social media.
“Edo people are happy with the President. Don’t listen to all these social media opposition. We know the President means well for Edo,” Okpebholo said.
He stressed the strategic importance of Edo State, describing it as a major gateway connecting the South-South, South-West and other parts of the country.
“Whenever there is a problem, the President always listens because Edo State is like a gateway to any part of the South, South-South and South-West. Even though we are in the North, they are the hub centre point. So anything that happens here affects every state in this country,” he said.
According to Okpebholo, President Tinubu understands Edo’s strategic position and has shown a willingness to respond to the state’s infrastructure needs.
“He doesn’t wait for anything to happen to listen to Edo State,” the governor added.
The governor also thanked Umahi for his role in the ongoing road rehabilitation projects and urged him to convey the appreciation of Edo residents to the President.
“So I want to thank you, Mr Minister of Works, and I want you to take our message back to the President that Edo people are saying thank you,” Okpebholo said.
He further pledged that the state would return to appreciate both the President and the minister after the completion of the road projects.
The inspection is part of ongoing efforts by
the Federal Government to assess and accelerate work on critical road infrastructure in Edo State, a key transportation corridor linking several parts of southern Nigeria.
The Nigerian media industry has been thrown into mourning following the sudden death of Dotun Oladipo, the Managing Director and Chief Executive Officer of Premium Eagle Media Limited, publisher of Eagle Online.
Oladipo died on Tuesday, August 25, 2026, in Lagos, at the age of 56.
His death was announced on the Eagle Online website on Wednesday, with the publication stating that the veteran journalist was in his “usual state of health earlier in the day before suddenly taking ill at his office.”
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The publication described his death as a “shock” to his colleagues, friends and associates.
According to report, Oladipo reportedly drove himself to an unnamed hospital hours before his death.
His death was confirmed by the President of the Guild of Corporate Online Publishers, Danlami Nmodu, who announced the development on the guild’s WhatsApp platform.
“It has just been confirmed that Emeritus President, Mr Dotun Oladipo, died today.
“May his soul rest in peace. Amen,” Nmodu stated.
The General Secretary of the Innovative Media Partners Cooperative Multipurpose Society, Nkanu Egbe, also confirmed the death in a statement on Wednesday.
“It is with profound sorrow that I announce the sudden death of our President, Mr Dotun Oladipo, who passed away on Tuesday, August 25, 2026, in Lagos, at the age of 56,” Egbe said.
Egbe described Oladipo as a dedicated leader whose journalism career spanned nearly three decades.
“Mr Oladipo led our cooperative with dedication, alongside a distinguished journalism career spanning nearly three decades. His passing is a devastating loss not only to IMPCMS but to Nigerian journalism as a whole.”
He said details of the funeral arrangements, condolence visits and interim leadership would be communicated in due course, while urging members to keep Oladipo’s family in their prayers.
Reacting to the development, the presidential candidate of the African Action Congress, Omoyele Sowore, described Oladipo as a
“complete gentleman, accomplished digital journalist and remarkable human being.”
“Dotun Oladipo has passed away. My heartfelt condolences to his family, friends, colleagues, and the entire community of digital journalists in Nigeria.
“May Dotun Oladipo rest in power!” Sowore wrote.
Oladipo was a former politics editor at PUNCH Newspapers and also worked with the Nigerian Tribune, Nigerian Compass and The Sun before founding Eagle Online.
He was a former president of the Guild of Corporate Online Publishers and was regarded as a prominent figure in Nigeria’s digital journalism industry.
Oladipo obtained a Higher National Diploma in Mass Communication from Ogun State Polytechnic, Abeokuta, in 1992.
The German Embassy in Nigeria has warned Nigerians against relying on information provided by self-styled visa agents when seeking German visas.
The embassy issued the warning on Wednesday in a post on its official X account, urging prospective visa applicants to obtain accurate information directly from official sources.
“Beware of misinformation. Save yourself the hassle & just ask us directly,” the embassy stated.
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The mission also asked Nigerians to share claims they had heard from “visa agents” in the comments, saying it would respond to some of the claims in subsequent posts.
“Tell us some of the things you’ve heard from ‘visa agents’ in the comments, and we’ll answer in upcoming posts,” it added.
The embassy further clarified that it has no partnership with visa agents.
“We do not work with any ‘visa Agents’!” the German mission stated.
It added that all relevant information concerning visa applications and procedures is freely available through its official website.
The warning comes amid the circulation of potentially misleading information about German visa requirements and application procedures.
The embassy urged Nigerians to verify visa-related information through official channels to avoid unnecessary expenses, confusion and possible fraud.
Prospective applicants seeking to travel to Germany are therefore advised to rely on information from the German Embassy and other authorised German government platforms rather than unverified claims from third-party agents.
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