Tech Investor Narrates How He Lost N600,000 To LG Chairman With Shotgun

Nigerian tech entrepreneur, Victor Asemota, has narrated how he lost N600,000 after a local government chairman threatened him with a shotgun for requesting for payment of a job done.

Asemota made this known while commenting on the corruption in Community Banks.

Asemota had built a website for the unnamed local government and charged N600,000. He later discovered that the amount had been increased to N6 million in a fake invoice, and an unnamed community bank cleared the check.

The entrepreneur said they later raised hell after discovering what happened, but the Local Government Chairman urged him to stay silent for his own good. Asemota was later invited to the LG Chairman's house for deliberation.

On getting there, he saw a shotgun on the table and other armed men. The incident compelled him to let the money go, "I built a website for a local government and charged them 600k for it. We never got paid. Someone had added another zero to a fake invoice, collected the cheque and cleared it through a community bank.

"We raised Hell and the Chairman told me it was in my interest to shut up. They invited me to his house for a meeting and there was a pump-action shotgun on the table with other armed men around. I left the money for them.

"Community banks were the money laundering units of LGA politicians. I am sure that it still happens through microfinance institutions till today." Asemota narrated on his Twitter account.

I built a website for a local government and charged them 600k for it. We never got paid.

Someone had added another zero to a fake invoice, collected the cheque and cleared it through a community bank.

We raised Hell and the Chairman told me it was in my interest to shut up.

— Victor Asemota (@asemota) May 15, 2020