Nigerian businessman and Agribusiness Nigeria Limited founder, Azeez Oluwole Saheed, has been declared wanted.
He was declared wanted by the Nigeria Police Force over alleged N50 million investment fraud.
Saheed is scheduled to appear before the Assistant Inspector General of Police, Force Criminal Investigation Department (FCID), Ikoyi, Lagos.
A Magistrate Court in Lagos issued an arrest warrant/bench warrant, according to a special police gazette bulletin, published by Daily Post.
The bulletin indicates that Saheed is wanted for alleged criminal conspiracy, obtaining money by false pretences, and fraud, among others.
The police acted on a complaint of “well-orchestrated theft” by Chive GPS on behalf of its clients; it demanded that the 49-year-old accused person should be placed on a red notice
It stated that following an advertisement in 2019, numerous customers separately transferred over N50 million into Farmkonnect's corporate accounts.
Noting that the funds were intended to earn income, the prosecution stated that Azeez thereafter stopped communicating with investors and was unavailable.
According to the petition, the activity could have been a deliberate fraud camouflaged as a legitimate investment scheme because of deceptive claims.
“We believe they may have also swindled thousands of persons of billions of Naira and diverted the funds into real estate and other personal endeavours,” it reads
The investors explained that they were drawn to the scheme because of the endorsement it received from respected personalities.
Ajibola Lawal, the lawyer representing the suspect, has however denied that his client is on the run, as noted by a police report.
Lawal said the Agritech company is facing some crises but is still viable.
“Azeez is taking assiduous steps to see to the end of the crisis and never absconded..no need for investors to panic.
“So far over 60% of the investors have agreed to the repayment agreement which was issued by the firm,” he said in a statement.
Azeez’s profile says he “trained as a chemist” and “built a career as a versatile military officer of the Nigerian Navy and a maritime security specialist.”
He recalled how he made his first agric investment in 2001 and established FarmKonnect in 2016 “with a meagre seed investment of 30,000 Naira ($200)”.