Aderemi Adeoye, a retired Anambra Commissioner of Police (CP), has dismissed claims that he described himself as a billionaire.
In a recent interview on Arise Television's 'The Morning Show', Adeoye denied saying he is competing with Africa's richest man, Aliko Dangote. During his retirement last Saturday, Adeoye had disclosed that he founded Alpha Trust Investment Club (ATIC) Limited in 2018 with a modest sum of N54 million, and the investment is now worth over N20 billion.
"I have never said anything of such. I weigh my words before I utter them and every word I say, I say in good faith. I never said I am now a billionaire and anyone who has proof to the contrary is challenged to produce it," Adeoye said.
The retired CP also refuted allegations that he was running a Ponzi scheme and misappropriating funds meant for investments in ATIC, a cooperative co-founded by him. He explained that the civil service rules and police code of conduct do not bar anyone from investing, and there is no law against buying shares or investing in land and property.
Adeoye said the club pays all the necessary taxes and the accounts are available to its 1,400 members, some of whom are based in Europe. He blamed the fraud allegations on some "renegade" members of the club who were expelled "for criminal activities."
The retiree clarified that ATIC is an investment forum and not a limited liability company, and its purpose is to invest, not to do business. He stated that the club has communicated with the Federal Inland Revenue Service (FIRS) and the Securities and Exchange Commission (SEC) to ensure its activities are within their purviews.
Adeoye urged the public to provide any evidence that contradicts his statements, emphasizing that he has never claimed to be a billionaire or compete with Dangote.