Health
Ponzi Scheme CEO Francis Uju Udoms of Addfx Case still Unresolved Despite SEC certification
Adoms Uju Francis founded a Forex trading company in November 2018 called Addfx which was later changed to Addy Finance and Investment Limited upon registration with SEC.
This company offered many Nigerians with crafty investment opportunity with an ulterior motive of attractive Return on Investment (ROI) which investment tenor of 6 and 12 months with interest rates between 13 to 25 percent monthly.
Adoms Uju Francis and his management flamboyant life styles on social media was worrisome. A lot of unprofessional practices characterized the company activities as most employees were friends and relatives of the MD. In fact, the MD’s former Bolt driver later became the Executive Director. Billions of naira of innocent people was in the hands of unqualified people. This shows the decadent of this sad scam.
The investment scheme of receiving funds from investors and payment of ROIs started in year 2019 and the company continued to pay monthly ROI into year 2021 with number of investors on all time high and funds running into billions.

The issues started with series of notifications to investors; Firstly was that in order to abide with the regulatory body, registration with SEC will help foster stability for the company. At this point, this seems like a welcomed development and embraced by innocent investors. Not too long after the first notification, payment of matured investments wasn’t received while some were delayed. This raised serious eyebrow by Nigeria especially people who had plans already in place for expected funds. Another circulation was sent to investors and this time, news that Addy Finance and Investment Limited account has been put on PND (lien) by the regulatory body. Investors were thrown into awe filled with rage and regrets. Some investors collected money from colleagues in office and invested in bulk. Some borrowed monies to take advantage of this seemingly investment opportunity. Some others invested school fees, rent or even thrifts. Frustrated investors stormed the company offices only to meet empty work space with security on guard. Billions of naira of investors’ money was trapped as the company could no longer keep up with the payment promised and as stated on Investment certificates issued.

Many lamented how could SEC keep quiet and didn’t react to this registered Ponzi Scheme. There should have been board of trustees and confirmed means of identification during registration of the company. A due diligence was meant to have been carried out before issuance of certificate.
Grapevine making the rounds was that aside the lapses in the system and structure of the company for its failure, SEC is also to be blamed for not spotting the obvious red flags. SEC allegedly didn’t checked Addy Finance and Investment Limited account thoroughly, they would have reconciled and notice that something wasn’t right such as that the money used to diversify into other businesses was not coming from the profit the company was making. Investors’ funds were used to diversify into projects like real estate knowing fully well that real estate in Nigeria takes a while to be profitable. Investing in real estate which takes longer time in reality to materialize, while you have to pay investors average of 20% monthly ROI makes a mirage to achieve.
An unconfirmed informant told onspotnews that Francis Uju Adoms ran away with at least 80 billions naira which were funds from investors disguised as a credible investment company not knowing it is a Ponzi Scheme.
The fact that the company Addy Finance and Investment Limited was registered with Securities and Exchange Commission, Nigeria, created confidence and trust in the authenticity of the company by most investors.
Upon confirmation of payment of investment, an investment certificate is issue by the company to investors for their archive and reference.

On June 28 2021, a group of aggrieved investors petitioned the Nigeria Police and subsequently, the International Criminal Police Organisation (Interpol) got an arrest warrant from a high court in Lagos and declared Adoms wanted. A notice from Interpol stated that Adoms had obtained a total of N52 million and $28,000 from unsuspecting investors under false pretence, using Addy Finance and Investment Limited. This petition is arguably just from one person out of thousands of people affected by the scam.
Many Nigerians are left in total darkness as to the outcome of the investigation since a petition has been submitted. Rumour has it that Francis Uju Adoms settled big ranks in the Nigerian police reason why the case has been swept under the carpet.
Presently, he has gone into hiding. No one even knows whether he is still in the country or not, and there hasn’t been any communication with aggrieved investors since 2021. The company offices in Egbeda (24 Idimu Road Egbeda Junction) alimosho L.G.A of Lagos state and on the Island (Block25, Plot8, Chief Collins Uchidiuno Street, Lekki Phase One, Lagos) have been shutdown together with other branches outside Lagos. Customer hotlines have been disabled and Francis personal numbers are all switched off. No response from the company email [email protected] also.

Since 2021, greater percentage of people affected by this supposedly Ponzi Scheme are yet to recover from their losses coupled with recent economic hardship under current political administration. Some have lost their jobs, lives and hope consequently. Onspotnews hereby appeal to Director General of the Securities and Exchange Commission, Dr Emomotimi Agama and Inspector General of Police Kayode Egbetokun to please look into this case and help recover the funds of innocent Nigerians affected by this Company as all efforts to recover has proved abortive.
-onspotnews
Health
Indomie Backs 15-year-old’s Guinness World Record-bound Ride To Raise Autism Awareness
Indomie has said it is backing a cross-country cycling journey by 15-year-old autism advocate Kanyeyachukwu Tagbo, who is embarking on a Guinness World Record-bound ride from Enugu to Lagos to raise awareness about autism and promote inclusion.
Tagged ‘Journey of Possibility, #RideWithKanye’, the expedition will see the young cyclist travel across several Nigerian cities as he advocates for greater understanding and support for individuals living with Autism Spectrum Disorder and their families.
The initiative represents an official attempt to set a Guinness World Records milestone as the youngest autistic individual to complete a cross-country cycling journey. The ride is scheduled to conclude in Lagos on World Autism Awareness Day, reinforcing the global call for empathy, acceptance, and opportunity for people on the autism spectrum.
Speaking on the brand’s involvement, Group corporate communications and events manager of Dufil Prima Foods, Temitope Ashiwaju, said the initiative reflects Indomie’s enduring commitment to celebrating courageous Nigerian children and amplifying stories that inspire hope.
“At Indomie, we believe every child deserves the opportunity to dream boldly and achieve extraordinary things. Kanyeyachukwu’s journey is a powerful reminder that determination and talent can transcend limitations. We are proud to support his mission to inspire understanding, acceptance, and hope for individuals living with autism,” he said.
Indomie stated that “Kanyeyachukwu first captured national attention when he was recognised at the Indomie Heroes Awards, an initiative by Indomie that celebrates courageous Nigerian children who have demonstrated exceptional bravery, resilience, and impact in their communities.
“Since receiving the recognition, he has continued to use advocacy, creativity, and public engagement to reshape perceptions about autism and inspire conversations around inclusion.
“Through the ‘Journey of Possibility’, Kanyeyachukwu hopes to demonstrate that individuals on the autism spectrum possess extraordinary potential when given the opportunity and support to thrive.”
It added that “as a key supporter of the initiative, Indomie will provide branded cycling kits and support materials for cyclists accompanying him throughout the route, alongside financial support and brand activations at designated stops along the journey. These engagements will include community interactions aimed at educating the public, encouraging dialogue, and fostering broader participation in autism advocacy.”
Through initiatives like the Indomie Heroes Awards and its support for the ‘Journey of Possibility, #RideWithKanye’, Indomie continues to champion young Nigerians whose courage, determination, and achievements demonstrate the limitless possibilities that emerge when children are empowered to pursue their dreams.
-Leadership
Health
Controversy Trails Alleged Drowning Of 2 Polytechnic Students
Two persons suspected to be students of the Federal Polytechnic, Nekede, Owerri, the Imo State capital, have drowned in Otammiri River in Owerri.
The incident, according to a source, occurred last Saturday.
The source said one of the deceased, Chukwudi Okwuchukwu, was a year one National Diploma Computer Science student and Igwilo, a friend of another student, who joined the swimming expedition.
However, the school authorities have denied the allegation, saying they were not aware of the incident.
An eyewitness who pleaded anonymity said four male friends came to swim in the Otammiri River and snap pictures.
According to the source, a local warned the young men not to swim, saying it was getting dark, but they refused and continued swimming.
Further, he said the swimmers who were busy being snapped pictures by their friends swam to the deep side and drowned in the process.
The school’s public relations officer, Dr Ike Ibe, said the school was unaware of the incident.
He said, “No, the school management is not aware of such an incident.”
When contacted, the SUG president of polytechnic, Destiny Nwosu, confirmed that two people drowned in the river but maintained that they had yet to be identified as students of the school.
Nwosu said, “I heard that two people drowned at the Otammiri River, but we have yet to confirm that they are students of our school. I can’t confirm whether they were Nekede Polytechnic students or from the other schools in the state, and if they were even students anywhere else.”
The president of the National Association of Imo State Students (NAISS), Nekede Polytechnic chapter, Daniel Promise, said he saw the video on social media but maintained that they had not been identified as students of Nekede Polytechnic.
He said, “Up till now, no one has confirmed the victim to be their coursemate or anything like that. I can’t confirm that they were our fellow students,” Promise said.
Meanwhile, the two corpses have been deposited at a morgue.
-Leadership
Health
Glaucoma Second Leading Cause Of Blindness In Nigeria – Commissioner
Plateau State commissioner for Health, Dr Nicolas Ba’amlong, has declared that glaucoma is the second leading cause of blindness after cataract in Nigeria.
He, therefore, called for a united push for regular eye checks, early diagnosis and affordable treatment.
The commissioner said Nigeria Blindness and Vision Impairment Survey, Prevalence of Glaucoma affects five percent of the population, adding that it accounts for 16.7 percent of blindness cases, while 5.6 percent of the affected individuals knew they had the disease and one in five persons were already blind at diagnosis.
He maintained that the 2023 Rapid Assessment of Avoidable Blindness (RAAB) survey in Plateau State reported prevalence of blindness to be 2.7 percent which is significantly higher than the national average of 0.7 percent stressing that glaucoma accounted for 17 percent of such blindness.
The theme for this year ” Uniting for Glaucoma Free World” emphasised the power of collective action in tackling one of the leading causes of irreversible blindness. It conveys both urgency and hope highlighting that while glaucoma cannot be cured, blindness from it can often be prevented through awareness, early detection and treatment.
Dr. Ba’amlong further explained that “Glaucoma Week reminds us that protecting visions is a shared responsibility because when we unite to promote awareness, early testing and accessible treatment, we move closer to the future where no one loses his sight to glaucoma.”
-Leadership
-
Health12 months ago5 Life Lessons from Manchester City EPL Current woes
-
Sports12 months agoLiverpool Announce Jürgen Klopp Return To The Club
-
Business12 months agoMTN Teams Up With Meta To Boost WhatsApp Call Quality
-
News12 months agoCommonwealth Observers Prepare For Gabon Presidential Election
-
News12 months agoChibok Girls: 11 Years Of Anguish, Broken Promises
-
News12 months agoWike’s Enviable Road Construction Method along Nyanya- Maraba Highway
-
News9 months agoNASRE Promises Support To Daily Times Group Business Editor, Oseni, Over Serious Road Accident
-
News11 months agoNigerian Orondaam Otto Named 2025 Young Global Leader By World Economic Forum
