Itoro Ekong (pseudonym), an Ibadan resident, has accused Tabitha Amarachi Eimoga of Ampersand Farms of leaving him stuck in limbo for more than two years after his N1.5 million investment matured.

Ekong told FIJ that six months before his investment matured in 2022, Eimoga informed him she could not make the scheduled payment for that month. However, she still failed to fulfil her promise to pay later.

His dealings with Eimoga began in 2020 when he invested N500,000 with Ampersand Farms for six months. At the end of the investment period, he received the promised return of N250,000. Encouraged by this, Ekong reinvested, adding N50,000 to the N750,000 he had received, for a new investment.

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“My return on investment was supposed to be N1,040,000, but in 2022, I withdrew N200,000 to buy things I needed for NYSC. Then, in August 2021, I added N660,000 to my N840,000, bringing my total investment to N1.5 million,” Ekong told FIJ.

The source’s proof of transfer to Ampersand Farms in 2021

Ekong said Eimoga had outlined in their memorandum of understanding that he would receive N2.7 million in August 2022, split into two tranches — one in March 2022 and the remainder in August 2022. However, this never materialised.

Eiomga’s Ampersand confirming Ekong’s payments

According to Ekong, Eimoga emailed him in March 2022, stating that Ampersand Farms could not honour its agreement with investors because the farm had been infected with avian flu, resulting in the birds’ deaths.

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Ekong said he waited patiently, but as August 2022 approached, when he was supposed to receive his full payment, it became increasingly difficult to reach Eimoga.

“The last time I chatted with her was in May 2022. I lost an uncle who was like a father to me, and I needed funds to support his children. Then I requested N300,000 from Eimoga, but she didn’t send it. I tried calling her, but she neither picked up nor responded,” Ekong said.

“Her husband’s number is available but he never answers my calls. When my sister called her, she responded initially but stopped taking her calls after realising we were related.”

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Ekong added that a lawyer once sent a demand letter on his behalf to Eimoga and Ampersand Farms, but there was no response.

“It has been over two years, yet she has not refunded my money. I want it back,” Ekong said.

When FIJ contacted Ampersand Farms via email, they admitted to owing Ekong.

“We regret all inconveniences caused by the situation but remain resolute in repaying him. We are currently repaying those with smaller investment amounts and are hopeful that it will get to his turn this year (2025),” Ampersand Farms stated.
The post Amarachi Eimoga’s Ampersand Farms Withholds Return on Ibadan Man’s N1.5m Investment From 3 Years Ago appeared first on Foundation For Investigative Journalism.