EFCC Arrests Gavice Logistics CEO, Ahamba Tochukwu, Over Alleged N2bn Ponzi Scheme

T The Economic and Financial Crimes Commission (EFCC) has arrested Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly defrauding unsuspecting investors to the tune of ?2 billion through a phony investment scheme.

According to the EFCC, Tochukwu lured over 400 investors into his purported haulage, courier, and e-commerce ventures by promising them an eye-catching 50 percent Return on Investment (ROI). Investigations revealed that between 2023 and late 2024, he amassed billions of naira from investors, many of whom have been unable to recover their capital or promised returns.

The anti-graft agency noted that Tochukwu went underground in November 2024, disappearing with investors’ funds until he was recently tracked down and arrested by its operatives. He is currently in EFCC custody, facing intense interrogation over the alleged Ponzi scheme.

In a statement, the EFCC urged Nigerians to exercise caution and avoid patronising unverified investment platforms or individuals who promise outrageous profits, warning that such schemes are often fraudulent.