At least two people have died and several others hospitalized following the collapse of an investment scheme in Ibadan, the capital of Oyo State.

Subscribers of the scheme, named ‘Agape Trade and Agape Thrift’, revealed the losses during a press conference in Ibadan on Wednesday. The scheme, founded by Mr. Enoch Adeoye, reportedly involved over 950 investors, many of whom are still awaiting returns from their contributions.

According to Mr. Abiodun Ayobami Mustafa, spokesman for the investors, the scheme began in January 2024 and initially paid returns for the first three months before abruptly stopping. The failure of the scheme has left investors traumatized, financially stranded, and humiliated.

Mustafa confirmed that the subscribers have submitted a petition to the Economic and Financial Crimes Commission (EFCC), urging the agency to investigate the founder and recover investors’ funds.

He emphasized, “The acts of the scheme founder are illegal, unlawful, and constitute criminality under Nigerian law. We are appealing to EFCC to exercise its constitutional duty to investigate and prosecute if found culpable.”

The affected investors are now calling for urgent action to prevent further harm and restore confidence among stakeholders.