by Achadu Gabriel, Kaduna
Barely two years after the closure of Famhzi Agro and Capital Investment Company, also known as ‘Famhzi Interbiz,’ the management is yet to pay investors their profits and capital as earlier promised.
The Chief Executive Officer and Managing Director (CEO/MD) of the company, Hajiya Mariam O. Suleiman, who is currently at large, had pledged serially to settle all the investors on/or before the month of May, 2021, but failed to fulfill her promise.
Investigation revealed that the money-spinning Company was forced to shut down in 2020 by the owner without paying investors their profits and capital, which runs into multi-millions of naira.
Majority of the victim investors, who are widows, retirees and some other business men and women, have been running from pillar-to-polls seeking for help from Police, EFCC and other relevant government agencies but all in vain.
Speaking to our Kaduna correspondent, recently, a widow, Mrs Margaret Sunday and colleagues, lamented that feeding, children school fees and rent-age fees have become a nightmare due to nonpayment of their monies that have been trapped in the company for over a year and half.
Problems started gradually, in 2019, when the company failed to pay profits to about eleven thousand people, who invested between N50,000 and N4 million each, in the company, as at when due.
“The bubble busted in April and July, 2020, when the company situation grew worse and could no longer pay investors completely as a result of COVID-19 lockdown,” a victims stated.
Earlier, in February 2020, the MD of the company Hajiya Mariam Suleiman, and other top management staffs told the investors that the company had money and promised to refund both profits and capital after series of threats by investors due to the mass failure of payment of profits.
A victim (name withheld), who allegedly invested millions in the company, attempted to commit suicide because of shock of news of the non-payment of profits and capital.
But eyewitness sources said the victim later transferred his anger on the company and destroyed some properties and even threatened to attack some staffs.
Findings also revealed that other victim investors had threatened to deal with the MD and other top management staffs severely, as a result of failure to pay their profits and capital promised them.
The company, located at No.15 Zone B, Madaki Lane, Byazine, in Kubwa, Abuja, allegedly collected hundreds of millions of naira from interested investors over the years as capital investment through persuasion.
Our correspondent, who visited the company, reported that the MD and all other management staffs have deserted the company office to unknown destinations, apparently due to the series of threats against the company.
A company flier obtained by our reporter from victims stated that the organization was paying their investors and partners, based on the duration of their investments.
“Monthly investments will earn 20% plus your original capital less than 20% in the fourth month, which is retained as registration fees. We also give investors the benefit of collecting their rewards in livestock, among others,” it stated.
A victim, however, revealed that their profits had dropped from 20% to 10% before the COVID-19 lockdown, alleging that the company’s failure to pay profits was not due to lack of business activities due to the pandemic alone.
Contacted, an officer at Kubwa Byazin Police Division confirmed that they had received several reports and notices of threats by the company investors but said they were “purely civil matters.”
An investor, who did not want her name in print, said the company promised to payback capitals to investors but failed to meet up with their promise due lack of money.
Findings also revealed that the company has built some edifices with the investors’ monies within the area, which provoked more (aggressive) reactions from its investors.