Segun Thomas, a car dealer, has detailed how he lost N1.5 million naira to Jennifer Nyesome-Effiong’s Hachi Farms.

Thomas said he invested N1.5m in Hachi Farms’ paddy rice scheme in January 2021. Like Didi Obioh, a fellow investor, he expected a return of 15 percent every three months, and then his capital after a year. But since then, he has only received N150,000.

“I was told I would be paid N225,000 as the first interest in April. But I only got N150,000,” he told FIJ. “They said they would pay a balance of N75,000 in May.”

Thomas also said Hachi Farms complained that N250 million paddy rice was stolen from them. In November, they promised to refund investors, but some are yet to get their money.

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“Hach Farms sent investors a refund calendar but we only got another email about how they wouldn’t use the calendar anymore. In February, Nyesom-Effiong said, in a Zoom meeting, that the company was expecting an intervention fund to pay 50 percent of all investors’ capital on March 7.”

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“On March 6, Hachi Farms sent another email, asking investors to be calm as they were unable to get the intervention fund. They sent another email, saying they would get the money, hopefully, without a specified date. I felt they are playing with us,” he said.

Nyesome-Effiong had told FIJ that the company did not refuse to pay investors but was battling a huge theft incident which had been reported to the police and the Department of State Services (DSS).

“We are also sourcing for intervention funds which process we have concluded. We are waiting for disbursement,” she said.