How I Almost Committed Suicide After Losing Over N100m To Forex — 25-year-old FUTA Graduate


A 25-year-old graduate of the Federal University of Technology, Akure (FUTA), Alfred Adebayo, said he planned to commit suicide after he was defrauded by a forex trader, Eseka Chuckwutem Gospel, popularly known as ECG.

Speaking to SaharaReporters, Adebayo said he lost over N100 million to ECG.


According to the Microbiology graduate, he was introduced to the forex trader by a friend on WhatsApp.

He said, “I actually got introduced to Gospel around March, I joined his group through someone I know on WhatsApp. So, when I joined the group, this guy used to give us 40 per cent of our investment every week. So, I started investing in it; you invest in a group, he doesn’t have a website or nothing.

“It’s a WhatsApp group, he drops the account number to invest in, so you send money to the account. You send the payment receipt and he would confirm. Then the following week, you get 40 per cent interest on your capital.

“There was a day I asked him what he does with the money and he told me he trades in forex. I asked him how sustainable and how everything was because we actually spoke at length. He told me not to worry and that he knew how he was doing those things. Then I told him I wanted to start collecting money from people to invest and give them a lower interest. 

See Also


19-year-old UNILORIN Student Commits Suicide After Losing N300m To Forex

“Around May, he said he was going to register the company and he started the process. I think he got registered by June. That same June, he came up with a story that his bank account had been frozen, and that he couldn’t make payment. That should be around June 17; let’s just say the third week in June. That was when he came up with the story and since then, we haven’t heard anything about him.

“He was arrested here in Akure and taken to Abuja. For me, I lost over N100 million and for those affected, the amount of money we lost runs into billions of naira. I spoke with a lady that made the police transfer him to Abuja and she told me Gospel doesn’t trade in forex but actually runs a Ponzi scheme.

“It’s actually crazy; I actually thought about suicide when this thing happened at first. I actually thought about suicide. Where would I get money from to pay people back? My brother has really supported me emotionally and financially, also my friends have been helpful. Immediately, I told them I wanted to kill myself, they advised me against it.”

A 300-level student of the University of Ilorin, Kwara State, Gbenga Favour Olaoye-Akanbi, committed suicide on December 20 after he was also allegedly defrauded of over N300 million by ECG.

Trouble reportedly started for the 19-year-old student when the returns from the N300 million refused to come at the expected time.

Those who invested with the deceased were said to have circulated his pictures on different social media platforms, tagging him a ‘thief, fraudster and scammer.’

“This guy in this picture called Jasper is a scammer. I have been paying to his Opay account and reinvesting my capital until he scammed us of our money. ‘Na God go judge am’ (God will judge him. He was proudly telling us that he had backup funds that was enough to pay everyone and he later told us that he had changed the money into crypto currencies. He has been given us stupid excuses since June,” one of the posts read.


See Also


“I Can’t Believe He Is Dead, He Was My Only Child”—Mother Of 19-year-old Who Committed Suicide After Losing N300m To Forex




Original Author

SaharaReporters, New York

Disable advertisements

Leave a Reply