UNILORIN student scams colleagues over N300 million

Ahmed 'Tunji Adebowale 6 December 2020
A 300L student, Olaoye Akanbi Favour, of the department of Agriculture at the University of Ilorin has been called out for duping his coursemates and friends of over 300 million naira for forex trading business.

Unilorin Correspondent to Mouthpiece NGR learnt that Olaoye, 19, (popularly known as Jasper) had earlier this year (February precisely) acclaimed to be a forex trader who have great knowledge about financial business and he persuaded his investors who are his friends and coursemates to invest on an agreed weekly percentage.


It was also reported that this young man gives his investors assurance that forex is not like a Ponzi scheme and that he has backup funds to pay the investors back in case things went wrong.

it was around June that everything went wrong and Olaoye had promised to pay back all capital invested before December. Up til this moment nothing has been heard from Jasper. He even went ahead to ghost his investors and no means of communication to get through to him.


It was after six months that all the investors knew they had been scammed and all their monies had gone.

One of the investors interviewed but pleaded anonymity expressed his regrets over turn out of the scenario as he was warned not to invest but he trusted his friend and was so sure he couldn’t do such a thing.

“And I was warned against it but as per say na my friend own the investment platform I had to put my capital in it.” He said.

Another investors also said…

“At the beginning, he claimed to be the one and only one trading, then when the problem started he mentioned one Gospel as his boss, said they were arrested together but our money is safe with him, whether or not they released Gospel that he’d start payment.

“Then he came up with the “money is with Gospel” story, and that Gospel’s accounts were frozen, that’s when we knew he’s been telling us lies all this while. Then Gospel’s accounts were unfrozen, but no money still, he then mentioned he wanted to report Gospel to the authorities, but he did nothing tangible, we discovered he only came out to talk whenever we’re discussing publicizing the matter.

“We’ve provided many solutions but he’s not agreeing to any of em. He’d just ghost us and do nothing. If he’s not an accomplice, he’d have joined forces with us but man’s doing nothing than hiding all around. Everyone offers support even though we knew he lied to us from the beginning.”

He also added that the last person that saw Jasper said this young man was cruising around in the latest Lexus car.


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