Panic and confusion gripped residents of Auchi, the headquarters of Etsako West Local Government Area in Edo State, on Thursday morning after a suspected Ponzi scheme operator vanished with millions of naira paid by customers for subsidized bags of rice.
The scheme, operated under the name Nations Pride Integrated Scheme, had attracted over 1,000 residents who paid ₦20,000 each for a promised 50kg bag of rice and other household items at reduced prices. The offer was widely promoted as a welfare initiative aimed at helping low-income families cushion the effects of rising food prices.
However, chaos erupted when hopeful buyers arrived to collect their purchases, only to discover that the shop used by the scheme’s promoters was completely deserted. Eyewitnesses said the building had been vandalized, apparently in anger by defrauded customers.
“I paid for two bags of rice for my family. Now, not only is the shop empty, but nobody knows who these people really are. They’ve just vanished,” said a visibly distraught woman who gave her name as Mrs. Agatha Igbinovia.
The identity of the trader behind the operation remains unknown, and attempts to trace any of the organizers have proven futile. Several victims claimed that the agents who collected payments used fake names and unregistered phone numbers, further complicating efforts to locate them.
Residents say the operators first sold rice in small quantities at the subsidized price to gain public trust, before ramping up the scheme and taking mass payments for larger orders, a pattern commonly seen in Ponzi operations.
Local authorities have yet to issue an official statement, but community leaders are urging victims to report the incident to the police and anti-fraud agencies, including the Economic and Financial Crimes Commission (EFCC).
This incident is the latest in a string of food-related fraud schemes exploiting Nigeria’s economic hardship and rising cost of living. Experts are warning the public to remain vigilant and avoid advance payments to unverified individuals or organizations.
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