There was palpable tension in Osogbo, Osun State, on Monday following the disappearance of operators of a cheap food initiative identified as Global Food Initiative, leaving scores of residents who had deposited money counting their losses.
Our correspondent who monitored the situation reports that many residents who paid for subsidised food items loitered around the organisation’s office at Odi-Olowo, Osogbo, expecting the operators to open for business.
Speaking with a journalists Online, a resident identified simply as Mistura said she deposited N300,000 last Wednesday to purchase 11 bags of rice at N27,000 per bag.
According to her, collection of items was usually one week after payment, adding that the 11 bags would have cost N605,000 at the current market price of N55,000 per bag.
Another investor, Olamide, said she paid N1.2 million for various food items meant for her stepdaughter’s upcoming wedding ceremony. She said she made the payment last Monday into account number 5287459667 bearing Global Food Initiative, domiciled in an online microfinance bank.
“I got here this morning and met a crowd waiting to be attended to. But the operators were nowhere to be found. I was warned, but I never thought they would run away this early. The items I paid for were to be used for the wedding ceremony of my stepdaughter.
“Before I paid the last sum of N1.2m into the scheme last Monday, I had earlier collected two five-litre gallons of groundnut oil from the operators. I paid N30,000 for each. But it costs far more in the market. I am in a serious mess here,” she said.
Another investor who spoke on condition of anonymity said the operators commenced operations over three weeks ago and promised that the initiative would run for six months.
She said panic triggered
“The operators actually reported here on Monday, but when they saw the agitated crowd, they ran away. A radio presenter on a private radio station in Osogbo on Sunday caused panic when he warned the residents against the scheme.
“The agitated crowd that stormed this place early today forced the operators to run away. A woman deposited N35m for various food items, another man showed us a receipt of N10m. Some hoodlums had attempted to break into the storeroom of the operators, but police personnel were deployed to stop them. We are still waiting for the operators to come back and resume operations,” she said.
When contacted, the Osun State Police Command Public Relations Officer, Abiodun Ojelabi, said operatives were deployed to the area to prevent a breakdown of law and order.
“There has not been any report
“It was there that we began to identify that a company identified as Global Food Initiative has been collecting people’s money, promising to subsidise food items while they pay in advance. We are still waiting for somebody to come and give us detailed information about the issue. We are monitoring the situation,” Ojelabi said.
