Titan Farms: More Nigerians speak up over phony agro investment

TWENTY-FOUR hours after The ICIR’s report, more investors allegedly defrauded by Chief Executive of Titan Farms Gbenga Eyiolawi have continued to share their heart-breaking experiences.

Some of the concerned investors are regretting their decisions and wish they never put their hard-earned resources into the farm business.

Eyiolawi is being called several unprintable names because he defaulted in his agreement with the investors.


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Tunde Adeniyi shared how he invested about N1.14 million with Titan Farms since August 10, 2021, but was yet to get his investment proceeds.

“Till date, not a dime has been paid.”

Rufai Kehinde Kofoworola made N1.2 million investment and was expecting N1.5 million return as of September 9, 2021.

Her plan as a married woman was to start a new business by January 2022 with the proceeds and support her husband with the usual family responsibilities. But as of the time of filing this report, her investment was still hanging, she said.

“…In fact, I am facing the same dilemma with the same Titan Farms. As I write, I have an investment of N1.2m to be paid N1.5m which has long been matured and due for payment since 9th September which is meant for a business I am supposed to start this January in order to assist my family and husband.

“As we all know, times are really hard and the country is not helping. Since September till date, I have sent several messages to no avail, kindly help.”

Azeez Shukurat Oloruntosin at about 3:13 pm on Thursday also narrated her account. She invested a million naira.

Eyiolawi acknowledged the N1 million investment but said the complainant was already settled with the product equivalent. This was when The ICIR reached out to him.

Some of these unpleasant experiences made some aggrieved investors tag all agro investments in Nigeria as scams.

Another individual identified as Damilola argued that investments had generally been turned into an avenue to swindle people.

“Titan farm’s CEO, is owing a lot of people and he is a chronic liar,” Damilola added.




    The ICIR can confirm Eyiolawi suspended further investments because he was not registered with the Securities and Exchange Commission (SEC). This came after a warning from the commission.

    However, he shared documents affirming he had commenced the process of regularising his firm’s activities as stipulated in the SEC guideline. The letter signed by his lawyer Chukwudi Ofili was received by SEC on July 1, 2021.

    Meanwhile, The ICIR reached out to Eyiolawi to verify when exactly he would offset the debts but he disclosed that deliberate efforts were being made to dispose of some private properties to make the payments.

    He announced that over N550 million had so far been paid to investors with a promise to offset the outstanding ones.

    Olugbenga heads the Investigations Desk at The ICIR. Do you have a scoop? Shoot him an email at [email protected]. Twitter Handle: @OluAdanikin

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    18 COMMENTS

    1. Please pay me my money,I invested 200k,till no ROI and my principal,is very unfortunate that this guy involved many prominents personalities to defraud innocent investors of their hard earned money.

    2. I implore the CEO of titan to please refund my investment money of #300,000.
      I invested this amount in the year 2001 august but till now no single penny has collected by me.

    3. I wanted to posta reply to the comment by your staff that we should report to the FCCPC. I am sorry to inform you that anyone that goes that route will only be wasting their time and setting themselves up for disappointment. I regstered a complaint to them, kept going back and forth like 4 times and got nothing. They summoned Gbenga, Titan MD. He called theor bluff three times and refused to attend a meeting that I was always on time for and they did nothing. If there was a stronger word for ineptitude and inefficiency, those are the words that will describe the FCCPC. Hugely disappointed!

    4. I also invested #300,000 in may 2021 but I’m yet to receive my investment…

    5. Hello,

      Thank you for reaching out to The ICIR.

      We extend our sympathy over your delayed payment.

      Kindly contact Federal Competition and Consumer Protection Commission (fccpc.gov.ng) detailing your encounter with the investment platform.

      They are in charge of regulating such activities and in a better position to resolve the issue.

      Kind regards,
      Esther Ilesanmi

    6. Good morning, I also invest with titanfarms. Since last year up till now I have not received any return from them, but my dashboard is showing that they have paid. I have sent mail and WhatsApp them on that issue and nothing has been done to it till now.

    7. I invested #400,000 in Titan farm since last year, till now not even a dine. Titan why this heart break….

    8. Titan farm CEO is a habitual liar, you’re claiming to have paid ur investors up to #550m from July to December, my investment matured on 18th of August, 2021 all you have been doing is to give empty promises.
      Titan do well to pay me my 150k you can keep your interest to yourself and don’t forget that the evil that men do live with them no longer after, please my money mbok

    9. I invested in titan farm 4 units of 50 000 naira each which was supposed to mature in april 2021.I then received a notice that they had extended to another tenure. Am agreement never reached. That we will be paid by august with cc showing EFCC.Immediately I saw efcc, I became suspicious. And write back that I am not willing to continue. After which they now did not answer me but kept sending messages pushing the date foward until the last email that they will pay in January. Nowam.very sure that it was a fraud ,probably a ponzi scheme. Their official phone number unreachable since then.The funny things is that the online platform still open to receiving money from unsuspecting Nigerians. This is the last time I will invest in a Nigerian company, agro or not

    10. Thank you so much for this playform, I also invested im the titan rice farm scheme which was made in May, 2021 and due August, 2021. Let me state that nothing was done as from the onset Mr Gbenga kept on lying and promising to pay, it took the intervention of one of his influencers and so much plea(on my own money)for part of my capital to be paid in October, 2021.
      Till as i write you no form of communication and all efforts to reach him has proved abortive, that investment made me run into debts and embarrasment that i can not even pen down. All i am pleading for is for Mr Gbenga to please pay my remaining money to help me offset my debts.

    11. I borrowed the money I invested into titan rice as an investor which supposed to be due as at September 2021 please titan farm pay me back I have to pay back

    12. I also invested with Titan Farms Nig Ltd following a referral from a very good family friend who claimed she had reaped from the investment in the past. After much due diligence, I decided to invest. In May 2021, I invested and expected due date was August 2021. The money was meant for my tuition: master’s program abroad.In a bid to pay up, on 30 August 2021, Mr. Gbenga Eyiolawi issued a dud cheque, after which he pleaded with me not to report to security agents.After much pressure, Titan Farms paid the interest and part of the sum invested and promised to settle the balance in September 2021, but failed to deliver as promised. He pleaded with me severally to give him more time to settle the balance. On 25 September 2021, he issued another cheque in an attempt to fully repay my money, but bounced (second dud cheque that was issued). Mr . Gbenga has since then been unreachable. This made me realise that he is a scammer who delights in using financial instruments to defraud investors.
      His claim to have paid investors N550m between July and December is a blatant lie. And has caused so much damaged.

    13. With heavy heart I write this tonight,why are we doing bad to out fellow human,you claim you’ve paid 550m and noone came out to say that is true,please pay my 200k 8 don’t need the interested i just want my money back,scarmers everywhere we don’t know who and who to trust anymore…..

    14. The claims he has paid people is a lie. Non has been paid. Let him just pay me my investment alone and I will b fine. Without remorse, he told me he will b paying me September 2021, till now, I have not heard anything.

    15. Titans claims that he has paid over 550 million is a lie because I have non of the investors has come out to claim he or she has gotten a dime from the investment. As we speak, my 350k investment is still hanging, after series of emails and calls, he unapologetically said he will start paying from September 2021. Till now nothing. In fact this has caused me a whole lot of shame even in my home and my children’s school.

    16. It is with great distain and alacrity that i put up this note as a result of the inhuman and unacceptable treatment meted out by an Agro-Investment company notably known as “TITAN FARMS MULTI-BUSINESS COMPANY” whose CEO goes by the name chief Gbenga Eyilawi to his esteemed investors.
      My ordeal with this company regrettably began on 10th of June 2021 with the user name “SLIMPRINCE”,when i invested my last savings of two hundred thousand naira which was to yield the sum of two hundred and fifty thousand over time duration of three months.I decided goin via this route after my big sister by name Mrs Kehinde Kofowora Rufai in a bid to help raise money for treatment of a chronic disease i was battling and still battling introduced me to this farce of a company called TITAN FARMS.
      Time elapsed and nothing was forth coming to which i protested on their Instagram timeline and got blocked(the height of gross irresponsibility).
      I managed having access to the said CEO’s number via my big sister who had also invested over a million naira and was also calling him.He picked and got offended that his number was given out where by i resulted having to beg that i was ill and needed money to buy drugs.He kept posting n giving false dates of payment till i got tired of his fallacy.
      Please help us tell the world that Mr Gbenga Eyilawi is a fraudulent man and God would catch up with him soon if he fails to do the needful cos the voice of man is the voice of God

    17. It is highly unlikely that Titan has paid N550m between July and December as stated by them. Earlier they published few names in Instagram of those with small investments between July and August. Mine which was due on August 10, 2021 is one of the earlier ones in the August cycle and till date they have not paid. I am convinced they have not paid N550m. Most important, if they have not paid people with investments due in August 2021, what is the fate of those with investment due for payment in December. Lies will not them.

    18. Let me state clearly that Titan’s claim that they have paid 550m between July and December has to be a big lie. If they were paying investors from July, there is no way they will not have paid me N1.14m which was due on August 10. Mine is part of the early investments that are due. If it is true, let them show you the breakdown. They started paying claiming a few investments were due in July and August, they published a few names and then stopped paying. Till date, my payment due since August 10, 2021 has not been paid, this include 31 bags of rice bonus which they won’t give. It’s easy for them to go public and claim they have paid N550m because they know no one will verify.

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