The Economic and Financial Crimes Commission (EFCC) has apprehended Ahamba Tochukwu, CEO of Gavice Logistics Limited, for allegedly running a N2 billion Ponzi scheme that defrauded hundreds of investors.
Tochukwu reportedly lured victims with promises of up to 50% returns on investments in haulage, courier, and e-commerce services through elaborate plans.
Over 400 investors were affected, with many unable to access their capital or promised returns after Tochukwu disappeared with the funds in November 2024.
The commission cautioned Nigerians against patronizing unverified investment schemes and pyramid structures, emphasising that fraudsters often disguise themselves with attractive returns to deceive unsuspecting individuals.
Tochukwu is in EFCC custody, undergoing interrogation for his alleged role in the Ponzi scheme.
The EFCC’s action is part of its ongoing efforts to combat financial crimes and protect citizens from fraudulent activities.
In March 2025, the commission warned Nigerians about 58 suspected Ponzi operators, noting that some had already been convicted or were facing court proceedings.
EFCC’s Head of Media and Publicity, Dele Oyewale, confirmed the arrest in a statement issued on Wednesday, September 3, 2025.
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