By Atoyebi Nike
The Economic and Financial Crimes Commission (EFCC) has arrested Mr. Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly running a Ponzi-style investment scheme that defrauded hundreds of Nigerians of more than ₦2 billion.
According to the EFCC, Tochukwu presented Gavice Logistics as a diversified enterprise involved in haulage, courier, and e-commerce services, enticing investors with mouthwatering returns of up to 50 percent.
Investigations revealed that more than 400 people committed funds to the scheme, but since November 2024, neither their capital nor the promised profits were returned after the CEO allegedly vanished with the money.
After months on the run, EFCC operatives tracked down and arrested Tochukwu, who is now being interrogated. The Commission urged Nigerians to avoid fraudulent investment platforms that advertise unrealistic returns.
“Members of the public are enjoined to desist from patronizing unverified pyramid schemes and fraudulent investment promoters to avoid being defrauded,” the EFCC said in a statement.
Ponzi-style scams continue to thrive in Nigeria, often disguised as legitimate ventures in logistics, agriculture, real estate, or trading. Earlier this year, the EFCC named 58 suspected operators, while recent arrests have linked individuals to multimillion-naira frauds disguised as investment schemes.
