EFCC Arrests Ahamba Tochukwu, Gavice Logistics CEO for N2 Billion Scam

The Economic and Financial Crimes Commission (EFCC) has arrested Ahamba Tochukwu, Chief Executive Officer of Gavice Logistics Limited, for allegedly masterminding a fraudulent investment scheme that duped over 400 Nigerians of more than N2 billion.

According to investigators, Tochukwu rolled out elaborate investment plans in haulage, courier, and e-commerce services, luring investors with promises of a mouthwatering 50% Return on Investment (ROI). The scheme, which attracted people from across the country, reportedly collapsed in November 2024, leaving victims unable to recover either their capital or the promised returns.

For months, Tochukwu went into hiding with billions of naira belonging to his investors, many of whom say they lost everything in the scheme.

“I sold my land and invested N5 million because he claimed the logistics business was booming. Now, my children are out of school and my family is suffering,” one heartbroken victim told reporters.

Another investor, who borrowed heavily to participate, described the experience as “a lifetime scar,” adding that the collapse has pushed many victims into debt and depression.

EFCC operatives eventually tracked Tochukwu down and arrested him. He is currently in custody, facing interrogation over what officials describe as “a carefully orchestrated Ponzi scheme disguised as a logistics investment.”

The EFCC, in a statement, cautioned Nigerians against patronizing unverified investment platforms that promise unrealistic profits. The commission stressed that many fraudsters often hide under attractive business models to lure unsuspecting victims.

“This case is a painful reminder that greed and desperation can be exploited by fraudsters. If the returns are too good to be true, Nigerians must walk away,” the agency warned.

The story continues to trend online as Nigerians call for stricter regulation of investment schemes and tougher penalties for fraudsters.