EFCC arrests CEO over N2bn investment fraud

Abdullateef Fowewe

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested the Chief Executive Officer of Gavice Logistics Limited, Ahamba Tochukwu, for allegedly defrauding hundreds of investors of over N2 billion through a fake investment scheme.

A statement by EFCC noted that Tochukwu lured investors with elaborate packages in haulage, courier and e-commerce services, promising returns of up to 50 percent on their investments.

Investigations revealed that more than 400 investors subscribed to the scheme but have been unable to access their capital or promised profits since November 2024 when the suspect allegedly disappeared with the funds.

Tochukwu was eventually tracked down and arrested by EFCC operatives, who are interrogating him over what the Commission described as a fraudulent Ponzi-style operation.

The statement reads, “Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested Ahamba Tochukwu, Chief Executive Officer, CEO, Gavice Logistics Limited for allegedly defrauding several investors in his logistics investment schemes to the tune of N2,000,000,000( Two billion Naira only).

“Tochukwu, through Gavice Logistics Limited, rolled out elaborate investment plans spanning haulage, courier and e-commerce services and dangled fifty percent Returns on Investment, ROI, to his investors.

“Investigations showed that he raked in more than N2billion from 400 investors who could no longer access their capital and ROI owing to the fact that Tochukwu, since November 2024, disappeared into thin air with his investors’ funds. He was however caught by EFCC’s gallant operatives who are busy grilling him on his alleged fraudulent Ponzi scheme.

“With his arrest, members of the public are enjoined to desist from patronising unverified pyramid schemes and fraudulent investment promoters to avoid being defrauded.”