Retired Police CP Reveals Strategy for Facebook Wealth Accumulation During Service
The retirement of Chief Aderemi Adedoye, the former Commissioner of Police in Anambra State, after 35 years of service in the Nigeria Police Force, has sparked considerable interest, mainly due to his involvement in a significant investment venture.
During a ceremony in Awka, Chief Adedoye shared details about an investment company he co-founded with some Facebook friends, revealing that the venture is now valued at approximately N20 billion. Despite his retirement, Adedoye expressed his intention to focus full-time on business pursuits rather than delving into security consultancy, a common path for retired security personnel.
However, the revelation of Chief Adedoye’s involvement in the multi-billion naira enterprise has stirred controversy, prompting questions about the investment outfit’s origins and operations. To address these concerns, Chief Adedoye appeared as a guest on Arise News TV to provide clarification.
He emphasized his commitment to diligent service during his tenure as Commissioner of Police in Anambra State, citing honors and recognition from various quarters as evidence of his integrity and dedication to duty. Chief Adedoye highlighted his conferred chieftaincy titles and accolades, such as being declared Man of the Year by Africa Trust Magazine, as a testament to his exemplary service.
Chief Adedoye outlined the structure and operations of the investment outfit known as Alfa Trust Investment Club. The organization’s loan arm registered as Artic Cooperative Multipurpose Society Limited operates under the purview of the Lagos State Government. The investment activities are conducted under Artic Ventures and Business Services, registered with the Corporate Affairs Commission (CAC).
Chief Adedoye clarified that the investment club’s founding members, 177 individuals, were drawn from his Facebook network and an investment forum where he had provided free lectures for years. Membership has since expanded through referrals from existing members. The organization operates cooperatively, with members pooling resources for legal investments.
He stressed that the investment club operates without the traditional trappings of business entities, such as physical offices, employees, or overhead costs. Instead, the only expenditure is organizing physical meetings, which are funded through membership dues. Additionally, stringent criteria are in place for membership, including Nigerian nationality, verified means of livelihood, and a clean criminal record.
Chief Adedoye’s appearance aimed to address any doubts or misconceptions surrounding the investment venture, reaffirming his commitment to transparency and ethical business practices.
