On May 1, Aderemi Adeoye retired as the Commissioner of Police in Anambra State. He retired from the position after spending 35 years in service.
During Adeoye’s ceremonial pull-out parade from the Nigeria Police Force on April 27 in Awka, the state capital, he announced that he had already prepared himself for life after retirement.
He made it known that he would be fully taking over the affairs of an investment forum he owned and had founded since 2018.
He then stunned everyone present at the gathering by declaring that the business was worth N20 billion and that in the following 10 years, it would give Aliko Dangote’s entire investment a run for his money.
Interestingly, Adeoye’s “N20 billion investment forum” called Alpha Trust Investment Club (ATIC) has, in the last four years, been the subject of controversy, protests and petitions.
The stakeholders, who are mostly diaspora-based Nigerians, have accused the former CP of running a Ponzi scheme and defrauding them.
They raised concerns about a lack of accountability and not having a proper structure in place.
They also accused Adeoye of consistent and gross abuse of power, intimidation, arbitrary punitive actions against members, negligence of duty and failure to adhere to regulatory requirements.
A MEMBER WHO TOOK A LOAN FROM ATIC
Mahmud Bernard (not real name), one of ATIC’s diaspora investors, spoke to FIJ about how he once took a loan from the club and none of its principal officers bothered to demand he pay it back when repayment was due.
“In 2017, we got to hear of how Adeoye had been arresting fraudulent people, and we found it commendable,” said Bernard.
