ABUJA, NIGERIA — The Economic and Financial Crimes Commission (EFCC) in Nigeria has arrested the head of a logistics company on suspicion of defrauding investors of an estimated N2 billion (approximately $2.2 million) through an alleged Ponzi scheme.
Ahamba Tochukwu, the Chief Executive Officer of Gavice Logistics Limited, was taken into custody after a months-long investigation. According to the EFCC, he allegedly lured more than 400 investors with a promise of a 50% return on investment for his company’s haulage and courier services.
The anti-graft agency stated that investigations showed Tochukwu disappeared in late 2024, leaving investors unable to access their initial capital or promised returns. His arrest comes after a period of being unaccounted for.
Following the arrest, the EFCC issued a public advisory, urging people to be cautious of unverified investment opportunities and fraudulent schemes to avoid financial loss.
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