Amaka Okwudili
The Economic and Financial Crimes Commission (EFCC) has arrested Ahamba Tochukwu, CEO of Gavice Logistics Limited, for allegedly running a N2 billion Ponzi scheme. Tochukwu reportedly lured 400 investors into his logistics investment plans, promising a 50% return on investment, and then disappeared with the funds in November 2024.
The EFCC revealed that Tochukwu’s company, Gavice Logistics Limited, rolled out elaborate investment plans spanning haulage, courier, and e-commerce services. However, investigations showed that he raked in over N2 billion from investors who could no longer access their capital and returns.
EFCC operatives tracked down Tochukwu and arrested him, and he is currently being grilled over the alleged fraudulent scheme. The EFCC has warned the public to be cautious of unverified pyramid schemes and fraudulent investment promoters, emphasizing that quick money offers often end in massive losses for investors.¹ ²
The EFCC’s action is part of its efforts to crack down on Ponzi schemes and protect investors. In March, the commission arrested 28 suspected Ponzi scheme operators in Minna, Niger State, and warned Nigerians to steer clear of such schemes.³
