Adeola Bashiru, a Lagos-based ex-private tutor, has narrated how Shade Olugbemi, CEO of Teeshafo Foods, scammed her and hundreds of others through a food investment plan.

Bashiru said that Olugbemi had posed as a clergyman to lure people into the food investment with the promise of getting foodstuff at a cheaper rate from villages.

“I first came across Teeshafo’s platform via a prayer group. She was one of the coordinators of the group, which made everyone believe she was a minister of God,” she told FIJ.

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“After a while, she began to introduce her business. She started by saying she was into the production of baby foods. She told us the production company was in China and that she only brought the foods to Nigeria for repackaging and selling.

“Later, she said she was into the sale of fruits, especially the ones that were in season.”

Bashiru said Olugbemi told them that she was a farmer and would purchase farm produce at a cheap rate and sell.

“Teefasho told us she was a farmer and would always buy farm produce, especially fruits at cheap rates,” he said.

“She told us about the investment and said each investor would get 50 percent of their investment within seven weeks. She would sell the produce and then pay us.

“Olugbemi sold each of the investment slots for N20,000. She said no one could have more than five slots, so I bought three.”

Bashiru said she bought three slots in January 2021, while a neighbor of hers, whom she also introduced to the investment, bought one.

“On January 12, 2021, I paid N60,000 for three slots. Each slot cost N20, 000. A neighbor that I introduced to the investment also lost the N20,000 she paid for one slot,” he said.

“It’s been over a year since I paid her and she has disappeared into thin air. She went away with millions of money in the name of selling farm produce.

“She is constantly changing her identity to defraud people. Once she was done duping some set of people, she’d change her identity.

“Sometime last year, she said she didn’t repay investors because she was arrested by the DSS. At another time, she claimed she had just put to birth. It has been different kinds of excuses to avoid repayment.”

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FIJ’s check on Teeshafo Foods’ Facebook page revealed several disgruntled victims of Olugbemi’s investment scheme. FIJ also found that the investment scheme was registered under the name ‘Diary Farm Investment’.

When FIJ called Shade Olugbemi’s phone, her line was switched off. A text message sent to her had also not been responded to at press time.