…Gavice Logistics rolled out elaborate investment plans and dangled 50 percent ROI to investors.
LAGOS, NIGERIA – The iNews Times | The Economic and Financial Crimes Commission (EFCC) has arrested Mr. Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, over an alleged ₦2 billion investment fraud linked to a suspected Ponzi scheme.
According to EFCC Spokesperson Dele Oyewale, Tochukwu lured more than 400 unsuspecting Nigerians into investing in what was presented as a high-yield logistics venture, covering haulage, courier, and e-commerce services. Investors were promised a staggering 50 percent return on investment.
However, investigations revealed that after collecting funds from participants, Tochukwu defaulted on payments and vanished in November 2024, leaving investors stranded and unable to access either their capital or expected returns.
“Tochukwu, through Gavice Logistics Limited, rolled out elaborate investment plans and dangled 50 percent ROI to his investors,” Oyewale said.
“Investigations showed that he raked in over ₦2 billion from 400 investors who could no longer access their capital and returns due to his disappearance.”
The EFCC confirmed that its operatives eventually tracked him down and arrested him. He is currently undergoing interrogation over the alleged fraudulent activities tied to Gavice Logistics.
Oyewale also issued a public warning, urging Nigerians to avoid patronising unverified investment platforms and pyramid schemes that promise unrealistic returns.
“With his arrest, members of the public are enjoined to desist from patronising unverified pyramid schemes and fraudulent investment promoters to avoid being defrauded,” the spokesman stated.
The case adds to the growing list of financial crimes targeting vulnerable investors across Nigeria, many of whom are still struggling to recover from similar past schemes.
