Opeyemi Adetula, a Lagos resident, invested N13,640,000 with Emerald Farms in 2021 to get N15,686,000 after three months. Almost four years later, his capital is still with the firm, and he has not received his return on investment.

Adetula told FIJ he first invested N3 million with Emerald Farms to get a 15 per cent return on investment within three months in February 2021 after he deemed the company worthy of his capital.

“I did a thorough assessment before investing. I visited their office in Lekki and their farms with Emadia Oghale, the founder. She took me to the processing plants, which assured me. I then concluded that it was appropriate to invest with them,” Adetula told FIJ.

READ ALSO: Emadia Oghale of Emerald Farms Yet to Return Lagos Woman’s N550,000 Investment or RoI Since 2021

Adetula said his N3 million investment matured on May 11, 2021, but he rolled it over for another three months. Earlier, on May 3, 2021, he invested N10,161,250. Both investments were supposed to mature in August 2021, but they have not.

“The investments became due in August 2021. I am owed N15,686,000. My principal sum with them is N13,640,000, while my return on investment is N2,046,000. However, Emerald Farms has failed to pay me my outstanding sums accruing from the investment. They have been overdue since August 2021,” Adetula said.

“They made concrete assurances to their clients via their website. It is as if they induced us to surrender our hard-earned funds.”

Bunmi Ikhifa, another investor with Emerald Farms, said she invested N3 million in July 2021 to get a 15 per cent return on her investment every three months. She has not received any payment to date.

READ ALSO: Banker’s N2.8m Still Hanging 4 Years After She Invested in Emadia Oghale’s Emerald Farms

“I was supposed to get the first ROI in November 2021 but did not receive it. They said there was a glitch in the system when I reached out and that they would sort it out. They said I would start receiving it from 2022, but I never did,” Ikhifa told FIJ.

“Emadia said she would get back to me but never did. I sent several emails and visited their office, but nothing happened. I hired a lawyer who took the case in 2022. In 2023, we obtained a judgment, but since then, we have not been able to reach her or locate her assets.”

When FIJ texted Emadia Oghale on WhatsApp for comments, she did not respond after more than seven working days. Her phone line did not connect for calls at press time.