Concerns have spread among residents of Osogbo, Osun State, after a vendor reportedly disappeared with customers' money. The business, located in the Odi-Olowo area of the Osun State capital, attracted residents with its low prices for food items including rice, cooking oil, spaghetti, and semovita. Customers were required to pay in advance and return about a week later to collect their food packages.
The business model seemed to have worked for a while, attracting many customers who were drawn in by the unusually low prices of the food items. However, some customers who returned to the business premises on Monday morning to follow up on their orders reportedly found the shop closed and the operators nowhere to be found. A video seen by Premium Times showed a large crowd gathered around the shop area, with some customers expressing concern over money they had paid for food packages.
Adabanija Sulaiman, a resident who spoke with Premium Times, said the development had caused concern among customers, particularly those who paid large sums of money. He said the affected customers are currently planning a protest to demand the recovery of their money. According to Mr. Sulaiman, the business attracted many customers because of the unusually low prices of the food items.
Mr. Sulaiman likened the business model to schemes in which operators persuade people to part with small amounts of money with promises of receiving larger returns. “It is like those people that will say you should come and invest with small money and get a large amount of money. They’re selling their food stuff at low prices, so, many people have paid for them to buy it at low prices and resell at the normal prices of those products.”
The sudden closure has raised questions about how the business operated and what happened to the money collected from customers. As of the time of filing this report, the operators were reportedly unreachable, while the circumstances surrounding the closure remained unclear.
When contacted, the spokesperson for the Osun State Police Command, Abiodun Ojelabi, said the matter had not been reported to the command. “We are not aware of such. There’s no report to that effect,” Mr. Ojelabi said. This has left customers feeling frustrated and helpless, with no clear indication of how they can recover their lost funds.
The incident has sparked a heated debate among residents, with many calling for greater caution when dealing with businesses that offer unusually low prices. The incident serves as a reminder of the importance of due diligence when engaging with businesses, especially those that seem too good to be true.
Key points
- The vendor's disappearance has left customers with significant financial losses.
- The business model has been likened to a ponzi scheme.
- The police are yet to be involved in the matter.
