The Financial and Monetary Crimes Fee (EFCC) has arrested Mr. Ahamba Tochukwu, Chief Govt Officer of Gavice Logistics Restricted, over allegations of defrauding a whole lot of traders via a Ponzi-style logistics funding scheme price an estimated N2 billion.
In response to the EFCC, Tochukwu promoted Gavice Logistics as a diversified enterprise spanning haulage, courier, and e-commerce companies.
“Operatives of the Financial and Monetary Crimes Fee, EFCC, have arrested Ahamba Tochukwu, Chief Govt Officer, CEO, Gavice Logistics Restricted, for allegedly defrauding a number of traders in his logistics funding schemes to the tune of N2,000,000,000( Two billion Naira solely),” the assertion learn.
He reportedly enticed traders with elaborate packages that promised as a lot as 50% returns on funding (ROI).
Scale of the Fraud
Investigations revealed that Tochukwu collected over N2 billion from about 400 traders. Nonetheless, since November 2024, the traders had been unable to recuperate their capital or promised returns after the CEO allegedly absconded with the funds.
“He raked in additional than N2billion from 400 traders who may now not entry their capital and ROI owing to the truth that Tochukwu, since November 2024, disappeared into skinny air along with his traders’ funds.”
The anti-graft company confirmed that its operatives tracked down and apprehended Tochukwu after months of a manhunt. He’s at present being interrogated over the alleged fraudulent scheme.
Following the arrest, the EFCC issued a cautionary notice to Nigerians, urging them to keep away from patronising fraudulent funding platforms that supply unrealistic returns.
“Along with his arrest, members of the general public are enjoined to desist from patronising unverified pyramid schemes and fraudulent funding promoters to keep away from being defrauded,” they acknowledged
What you must know
Ponzi schemes stay a rising concern in Nigeria, typically disguised as reputable investments in actual property, agriculture, logistics, or digital buying and selling. These schemes usually promise unusually excessive returns however collapse as soon as operators disappear with traders’ funds or are unable to maintain payouts.
In March 2025, the EFCC publicly warned Nigerians about 58 suspected Ponzi operators. These entities had been neither registered with the CBN nor the SEC, and the Fee famous that some have already been convicted, whereas others are going through courtroom proceedings or awaiting arraignment.
EFCC’s Port Harcourt arm arraigned Treasured Williams, a director at Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, over a staggering N13.8 billion Ponzi scheme fraud.
In response to the EFCC, Williams allegedly obtained funds traced to Maxwell Chizi Odum, the founding father of MBA Buying and selling and Capital Funding Ltd, who stays at giant, together with proceeds from over 3,000 unsuspecting traders promised month-to-month returns of 10 to fifteen per cent.
Earlier, in March, the fee reported the arrest of 133 suspects allegedly concerned in a Ponzi scheme academy in Abuja often known as “Q College” or “Q-Web”. EFCC uncovered that this academy operated by recruiting members right into a coaching titled “Particular Coaching for New Era Billionaire,” the place recruits had been brainwashed with slogans like “I’m a Champion,” “I’m Unstoppable,” and “I’m Infinity.” They had been instructed to herald new victims via these psychologically pushed strategies.
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