When Kayode Charles Popoola, a Suleja-based businessman, invested the sum of N1,300,000 into Alice Ayeni’s enterprise for the export of bitter kola from Nigeria to China and Hong Kong in November, he expected his return on investment (RoI) of N2,040,000 to come 40 days after the ship arrived at its destination.

Eleven months later, he has yet to receive his RoI and can no longer afford to pay his children’s school fees. He intended to use the ROI for this purpose and venture into other businesses that would yield returns.

Popoola told FIJ on October 18 that the November transaction was not his first with Ayeni and was shocked that almost one year later, he got nothing from her but a series of excuses.

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“I have done one transaction with her before, which took about 40 days to get my money. I got it once the ship docked and after all other processes. It is different this time around. I have got nothing since I paid in November 2023,” said Popoola.

“I have been hearing a series of complaints. Once, she told me they encountered some problems and that they foresaw a tsunami ahead so they had to divert the ship and took a longer route. Another time, she said the war between Israel and Hamas delayed the arrival of the shipment to its destination.”

Despite these excuses, he was hopeful he would receive his RoI. Unfortunately, the businessman received a message from the management of the school his children attended concerning his children’s school fees while waiting on Ayeni.

He informed Ayeni about his quagmire and implored her to send him N500,000 to offset his children’s tuition fees. Ayeni sent him N300,000, barely enough to cover his children’s school fees.

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“My children could not go to school during the third semester of their academic year because of this same issue. I asked her for N500,000 to offset the debts but she sent me N300,000 which was insufficient,” the Suleja-based businessman told FIJ.

“I called her again to tell her that the school authorities threatened not to allow my children into the school premises if I failed to offset the debt completely but I did not hear from her. I need my money. I don’t know what is happening. I am just in the dark and stagnant.”

When FIJ sent Ayeni a message on October 18, she said she would call back. But she never did, over two weeks later. FIJ called her again on Friday, and she did not deny the allegations.

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She told FIJ on a telephone call that she had paid someone else to do the business on her behalf, and the profits were yet to materialise. She also said she was admitted in the hospital, but FIJ could hear beeping sounds from a car in the background.

“He should tell you what has been happening to me. As I speak to you I am on admission. This is not the first time we are doing export with Kayode. We gave our money to one woman who did the export on our behalf and up till now she hasn’t sent it,” Ayeni told FIJ on Tuesday.

“Even when he needed money I went out of my way to look for money and raised it for him. The money hasn’t materialised. That is the truth.”

When FIJ disclosed the details of the conversation with Ayeni to Popoola, he said it was a lie that she was admitted in the hospital.

“She is not in the hospital. That is a lie. That was the same thing she told me too but I confirmed from someone that she was hale and hearty,” said Popoola.

Popoola’s story mirrors the challenges some Nigerians encounter after investing in ventures they expect would yield returns. Sometimes, people like Popoola spend months or even years anticipating their RoI.

Naomi Chika, an Abuja-based woman, had a similar experience. In April, FIJ reported how Chika became financially miserable seven months after investing N1.6 million with Adewale Adejana, the founder of Sapphire Scents Limited.

The report also detailed how she was still waiting for her profit five years after investing with Adejana.