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28.03.2021 Business Ife Oniyide’s Livestock Investment Firm Goatti Defrauds Lady of N650,000

Published 28th Mar, 2021

By Damilola Ayeni

A lady has alleged that Goatti, a Lagos-based livestock investment company and subsidiary of Remnikes Agricultural Produce and Services Limited, defrauded her after two rounds of investment.

The lady, who does not want to be named, expected to be paid not less than N845,000 six months after investing N650,000 in the company’s livestock business.

She made initial payment of N150,000 to the company’s account in June 2020 and an additional N500,000 two months later, expecting 30% return which was due on the first investment in January 2021.

CUT OFF COMMUNICATION

“My experience with Goatti started in June, last year,” she said. “Prior to that time, I was looking to invest in Agritech and then I searched and saw that they had good track record. They were also given a feature in BusinessDay. I felt pretty confident about the business and I also reached out to the CEO, Ife Oniyide. He sent me detailed information about their operations.

“I made the first investment for three goats at N150,000. I was supposed to get back the money with 30% interest after six months. I was getting monthly reports on how the investment was fairing and that put my mind at rest, then I made a second round of investment of N500, 000 for three cattle and four goats. Close to the maturity of the first investment, I got an email from the company asking for two months extension and that they would set up a zoom meeting for investors at the end of January. I didn’t get any email invite in January. At some point the communication line became glitchy. They responded to one in every seven messages.”

According to the lady, Goatti eventually cut every line of communication by disabling comments on its Instagram handle and refusing to take calls. The CEO and some staff contacted also refused to acknowledge messages on their LinkedIn pages.  

A FAKE OFFICE ADDRESS

A visit by FIJ to the Egbeda office address on the company’s website revealed that Goatti probably never had an office in the vicinity. The address is home to people making bakery and catering moulds, and none of those who spoke with FIJ remembered ever hearing the company’s name. The mould makers also said they had been on the address since December 2020.

Several other investors are telling similar stories online. A lady who posted on Nairaland in February said some of her friends invested in millions.

FIJ called Goatti’s official lines several times for comments but the calls were not answered. Also, text messages to the lines were not replied.    

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Published 28th Mar, 2021

By Damilola Ayeni

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