Fawunmi Mojeed, a resident of Lagos State, has accused African Alliance Insurance of refusing to release his N350,000 four months after his investment reached maturity.

Mojeed told FIJ that he began investing monthly with African Alliance in March 2019 after a friend informed him about the company’s plans. He said the company assured him that at the end of the investment cycle on March 1, 2024, he would earn some percentage of his capital.

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However, to Mojeed’s surprise, when the investment cycle matured, African Alliance Insurance failed to honour its commitment and did not pay him.

“When I got in touch with African Alliance on March 1, the staffer who attended to me asked me to forward my identity card, and I presented them with my international passport, and that was it,” Mojeed told FIJ.

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“I have not heard from them since then. The agent assigned to me at the initial stage stopped taking my calls. I don’t know what to do to get my N350,000. I have submitted an identity card as requested, but I still haven’t got my money, and I need it more than ever.”

When FIJ contacted African Alliance for comments on the issue, the respondent stopped communicating after the reporter explained the situation. A follow-up email was sent to the two email addresses found on their website, but both emails bounced back.