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Aduke Komolafe

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Article
/ 18 September 2007

Nigerians lose millions to phoney investment funds

Aduke Komolafe, a 58-year-old Nigerian civil servant, put an end to her life by swallowing rat poison, mortified at the loss of her savings to a phoney investment fund. Lured by the promise of 100% returns in two weeks, the mother of five put 1,3-million naira ($10 000) into Pennywise, one of dozens of self-styled "wonder" investment firms.

By Joel Olatunde Agoi

MAIL & GUARDIAN

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