A UK-based man has shared his devastating experience of losing £12,000 (approximately N24 million) from a thrift savings scheme after the sudden death of the group’s collector. The emotional and financial blow has sparked a conversation online about the risks involved in informal financial arrangements.
In a viral post on X (formerly Twitter), user @tobyasky recounted the painful incident, revealing the loss of trust and uncertainty that followed the tragedy. The scheme, commonly known as "ajo" in Nigerian communities, involved 12 close-knit members who each contributed £1,000 monthly. The funds were then pooled together, with one member receiving £12,000 each month.
According to @tobyasky, the arrangement had run smoothly for months without any issues. However, in July, it was his turn to receive the payout, only for disaster to strike. The collector, identified as Kola, had been unresponsive for two days leading up to the payment date.
In his post, @tobyasky explained:
*“We contributed £1,000 each month, and every month, one person would take home £12,000. It was built on trust, and we never expected any problems. It was finally my turn to collect in July. I had already planned how to use the money to pay off debts and invest the rest. But when I called Kola on the day of the payout, there was no answer.”*
Days later, Kola’s wife called one of the group members, crying, to inform them of his sudden death. The group waited a month before cautiously asking about the money, but Kola’s wife was unaware of the funds.
*“To this day, we don’t know what happened to the money,”* @tobyasky added, expressing the emotional and financial toll the situation has taken.
The heartbreaking incident has drawn attention to the potential risks of informal financial schemes and the importance of securing funds in such arrangements. Many in the comments urged people to consider more formal and secure options for saving and investing.
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