UNILORIN student commits suicide after losing N300million to Forex

Forex trading Lost by student

A 300-level student of the Department of Agriculture, University of Ilorin, UNILORIN, Gbenga Favour Olaoye-Akanbi, has committed suicide after he was allegedly duped by a forex trader, Eseka Chuckwutem Gospel (ESG).

According to a report by SaharaReporters, Olaoye-Akanbi was discovered dead on Sunday after consuming a substance suspected to be poison.

The 19-year-old student was said to have invested over N300 million belonging to his colleagues and friends in a business run by  ESG.

A friend of the deceased and an investor with the firm explained how they were duped.

He said,

“The investment is forex. The guy’s name is Eseka Chuckwutem Gospel. We started the investment together this year. It seems he stopped trading, so he turned indirectly to a Ponzi scheme without the knowledge of those investing.

“He has a particular group. Most people in that group collected money from other people to invest in his business. The late Gbenga collected money from different people to invest with ESG at a certain percentage

“It’s so sad; I have over N5m investment deal with him. He claimed to be the one doing the trading initially, but when the problem started around June, he started mentioning one Eseka Chuckwutem Gospel as his boss. He told us they were arrested together, but that our money was safe with him.

He later promised to pay everyone’s capital before December. I was surprised when I saw people posting his pictures with RIP today,” he said