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Love Sparkles

19.10.2022 Featured ‘Report Me to EFCC’, Palm Oil Merchant Loveth Eriwone Tells Investors After Taking Their Millions

Published 19th Oct, 2022

By Sodeeq Atanda

Uchenna Love Okoli, a Lagos State-based entrepreneur, has narrated how Loveth Iyere Eriwone a Sokoto State-based online palm oil merchant, defrauded her of N1,080,000 in July.

Okoli told FIJ that she first knew about Loveth Iyere Eriwone, who trades under a registered business name called Love Sparkles Global Resources, through Maria Ude Nwachi, a social media influencer.

The entrepreneur said she became interested in Eriwone’s business offer when Nwachi had promoted her palm oil business on Facebook in April 2021.

Loveth Iyere Eriwone
Loveth Iyere Eriwone

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“I came in contact with a business advertisement done for Loveth Iyere Eriwone of Love Sparkles Global Resources by Maria Ude Nwachi, a social media influencer, sometime in April 2021. I trusted the advert because I thought the influencer would not have promoted her business if it was not credible.” Okoli said.

The Facebook advert.
The Facebook advert.

“After seeing the advert, I became interested in the business. This made me to start following Eriwone on her Facebook page named Love Sparkles. My interest was further stimulated when I found that her business is registered with the Corporate Affairs Commission (CAC).

“By, January 2022, I contacted her to make an enquiry on the legitimacy of her business and upon the enquiry, I sent N1,080,000 to her on January 6 via a bank transfer.”

Her bank statement showing the payment she made to Eriwone.
Her bank statement showing the payment she made to Eriwone.

“After confirming my payment, she added me to a WhatsApp group where she would always engage her business partners and investors like me.”

Okoli said part of the signed agreement she had with Eriwone was that she would be receiving a N78,000 as profit payment every month, excluding her N1,080,000 capital.

The entrepreneur said she found the terms favourable and subsequently decided to commit her savings into the venture.

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She also explained that the investment was to be in effect for seven months after which the principal sum would be returned to her.

“She promised that I would be getting N78,000 on the 10th day of each month as my profit over the money I invested in the palm oil business,” Okoli said.

“By our agreement, this investment was expected to terminate in July when my N1,080,000 would be paid back to me.”

FAILED PROMISES ON AGREED REPAYMENT PLAN

Okoli told FIJ that she received the monthly profit of N78,000 promised between January and May. However, things suddenly took a dramatic turn in June.

Deed of Agreement issued to Okoli
Deed of Agreement issued to Okoli

“For the month of January, I received the agreed profit. This continued till May and I had completely believed the process was going to end well,” Okoli said.

“By the time the June pay day came and I did not received any pay, I contacted her and she claimed she was having an issue with the palm oil millers and once the issue was resolved, she would pay me.

“I then reminded her that July was by the corner and also demanded to know when I would collect the principal sum. She assured me that there would be no problem. Wholeheartedly, I believed her.”

THINGS TURNING AWRY

Okoli told FIJ that she later realised that there was a problem when Eriwone became “unreachable”.

“June ended, I did not get any pay. July also passed and I still did not receive a dime. At that point, I became panicky,” she said.

“Eriwone kept pleading with me to be patient. I even told her to cancel June and July profits and return the principal sum. She later promised me that she would return my money by August 31 and I still thought she was being sincere.”

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Despite the promises she made in July, Okoli said Eriwone still ended up not living up to her words.

“I have not heard anything from her since September 1,” Okoli said.

“She is not no longer answering my calls. I am worried because the money is actually all I have as a human being. She has my entire life savings with her.”

“YOU CAN CALL ME OUT ON SOCIAL MEDIA OR REPORT TO EFCC” – ERIWONE

When Okoli and other investors in the WhatsApp group Eriwone had created eventually realised that they may have been defrauded, they all demanded that their capitals be returned to them.

While responding to the investors’ demands however, Eriwone, in a voice chat, told them that she had already declared the nature of her business to the Economic and Financial Crimes Commission (EFCC) and that “any unsatisfied investor should feel free in deploying whatever means they in their possessions in recovering their monies”.

In the same voice chat, Eriwone dared the investors to report her to the commission. She also “advised them to resort to social media backlash if they thought that make them get their monies back”.

“After being bombarded with messages this morning, I had to call my lawyer and seek legal advice. I have now gone to make an official statement about my business to EFCC,” Eriwone said.

“Whatever you want to do, go and do it. I have worked for you people and you are seeking my downfall. If we don’t make profits in this group in a month, we make between N2 million to N4 million. If you want to go to social media to cry, go and do it. If you want to call on your juju, go and do it.

Love Eriwone's response in the group chat

“I have officially turned myself in and pleaded with EFCC to give me time to sort things out with my health. If you have a problem, go to any EFCC in your location and submit all my information you have to them. Let’s go legal. You want things to spoil and it will spoil that way.”

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When FIJ made a phone call to Eriwone for comments on the matter, she responded angrily and insisted on knowing this reporter’s location.

She later muttered some incoherent words in a language believed to be Igbo before hanging up.

Published 19th Oct, 2022

By Sodeeq Atanda

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