Investors storm Oko Oloyun’s office, demand refund

Oko Oloyun's office shut
Oko Oloyun’s office shut

By Michael Adeshina

Tens of Lagosians on Friday stormed the LASU Road office of late Alhaji Fatai Yusuf, popularly known as Oko Oloyun, to demand the money they invested in his Ponzi scheme.

Oko Oloyun, a popular Lagos-based trado-medical expert, was murdered on Thursday around 4:30pm on the road while travelling to Iseyin, Oyo State. He was reportedly attacked by some hoodlums at Igboora.

Following his demise, people who invested money in his Ponzi scheme, known as “Option C” stormed the Head office of his company to demand how to retrieve their money.

The investors were the more confused as his two offices at Egba Idowu along Igando road in Lagos were shut with no one to provide information.

Oko Oloyun, real name Abdulfatai Yusuf

The investors, however, vowed to take drastic measures if a statement was not issued by the organization as soon as possible.

Just like the day MMM folded up, the investors in “Option C” programme narrated how much they had invested and insisted they could not afford to lose their hard-earned money.

An investor, who chose to be called Emmanuel explained that Option C is a money-making programme that promised a 10% return in two months.

Emmanuel, who was trembling while speaking, added that he invested in the scheme in July 2019 and had only received returns once, contrary to the agreement of two months which was stated.

Mrs Bunmi (first name withheld), a retired teacher, who was clearly in shock, stated that she had invested millions having joined the programme in December 2018. She said she had only received N500,000 from her investment and that she was not sure of her fate with the death of Oko Oloyun.

Clutching her investment documents, she said that she filed to pull out after inconsistency in payment but rescinded her decision when she was told that she could not get her investment back in full.

Mr Azeez, another investor, said he invested N1 million in September 2019 and had decided to pull out after he was not paid in November. He, however, vowed to pursue his profit with all his ability.

Mrs Bisola (second name withheld) said she invested the money sent to her by her military husband who is fighting insurgents in North East. She said she could not afford to lose the money. She urged the management to speak up and address the investment programme issue quickly.

Mrs. Sulaimon, an investor, said she aborted her trip to travel down from Badagry to Igando when she heard about the assassination of Oko Oloyun.

She noted with tears that she had invested a lot and could not afford to lose her investment. She was however optimistic that the returns would be paid after meeting her co-investors who cheered her up.

However, in the midst of the lamentation, some investors who had visited the house of the late Oko Oloyun in Lagos alleged that they were denied access by the security men, with the statement that “Alhaja said we should not allow anybody to come in, they are all in Ibadan.”

Some investors storm his office

After the outcry, the investors agreed among themselves to visit the house of the deceased in Lagos during the Fidau prayers on the eighth day to demand their returns.

However, a security man at Oko Oloyun’s Egan Idowu office alleged that one of the rooms in the head office was intentionally burnt by unknown men prior to Oko Oloyun’s death.

He said the workers who were on duty had been arrested.

14 COMMENTS

  1. Nigerians will never learn. A lot of ponzi scheme has failed in the past and people loss a lot of money. I doubt, if most investors will recover their money.

  2. Any one interested in travelling to Australia should send email to: ojamise@@yahoo.com for further details. Male or female eligible.

  3. If it’s too good to be true, perhaps it is. 10% in 2 months? As an investor, always understand the model that governs returns- how is the interest realised? If it cannot be explained in plain language, run! Money does not fall from heaven.

  4. I know one thing which is very clear to everyone: death is real, whether poor or rich.
    Allah says in the Quran”Every soul must taste death, May his soul rest in perfect peace aameen

  5. Businesses are called “going concern” for a reason. If the investors showing documents to back their agreement is anything to go by, then there should be no cause for alarm. Death of the owner should not cause hullabaloo..

  6. The people are the reason the program will become a Ponzo scheme because of their thinking.If the CEO of a company dies, does that mean the company will collapse? They need to understand that most CEOs only have 20% out of the company’s value. The owner of the company dies and the thinking will be, let the associate foreclose the business.

    • What you don’t understand is that before the man even died, the C option had failed to pay people. The company had been inconsistent and a lot of people are already worried . They went to his office to get their money back and pull out, but were told they cannot get their money back easily like that. Now the man died.
      So,never you blame the investors, they had already passed through hell even before the man died.

  7. I think that those behind his assassination maybe the people who also invested in the company and in Nigeria nothing goes for nothing. If the police can find out how he died, then you might discover that his killing will fall on those he owed.

  8. Sorry o, I believed the money has entered “voice mail”. The people concerned should prepare their mind for the worst so they will not have heart attack.

  9. Nigerians yesterday, today and forever, Jesus yesterday, today and forever. Wisdom is from God and not from human beings.

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