Rolad Properties & Allied Services, a real estate and investment company that took N10 million from farmer AdPaul Nowo and withheld his returns and principal amount for three months, has paid both after FIJ’s story.
Nowo used to be a Malaysian plantation worker. He relocated to Nigeria and thought his investment would serve him. It was more than just extra money.
Being a farmer, Nowo’s first interaction with the company was for land purchases. When he was told about their investment plan, he decided to give it a try.
The terms were for him to invest N10 million and then get a 10% Return on Investment (RoI) after one year.
Olufunke Sowunmi, the person who advertised the investment scheme to him, had assured him that it was legitimate because the company had been in existence for a long time.
At the maturity date, Nowo told Sowunmi that he wanted to withdraw both the principal and the interest, but what followed was frustration for the investor.
READ MORE: Rolad Properties Withholds Lagos Farmer’s N3.15m RoI for 3 Months
At one point, Nowo said Adewale Morakinyo, the project manager, even insulted him despite missing different deadlines they had been given.
Nowo told FIJ that he received the accrued interest on Friday, a week after FIJ’s story. A cheque was also issued to him for the principal.
He said Dotun Oloyede, the managing director of Rolad Properties, whom he had been longing to speak with for a long time, later contacted him to apologise for the company’s delay.
“The N1,837,000 is the extended interest as proposed by Mr Dotun Oloyede himself for the period of April 3, 2025, to October 2, 2025 (as written on the cheque),” Nowo clarified the additional N1.8 million on top of the principal.
The post After FIJ’s Story, Rolad Properties Refunds Farmer’s N11.8m Principal, Pays N3.1m RoI appeared first on Foundation For Investigative Journalism.