Nigerian Businesswoman Cries Out after Losing N10 Million Ajo Savings Meant For Her Factory

• A Nigerian businesswoman broke down in tears in a viral video after losing N10 million she had saved since the previous year through an ajo contribution scheme
• She revealed the money was entirely earmarked for expanding her factory, not for personal spending or luxury, making the loss feel even more devastating
• The ajo coordinator has refused to pay her share, and despite multiple meetings and a police report, the woman says she still has not recovered her money

A Nigerian businesswoman has gone viral after posting a tearful video recounting how she lost N10 million she had spent over a year saving through a traditional ajo contribution scheme, with the coordinator refusing to release her payout.

In the recording shared on X, the visibly distressed woman spoke in a broken voice about the emotional weight of the loss, stressing that the sum of money involved represented far more than figures on a screen.

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A Year of Sacrifice, Gone in an Instant

Motunrayo explained that her savings were the result of relentless work over an extended period, with no indulgence along the way.

There was no vacation fund, no car purchase plan, every naira she set aside was earmarked exclusively for growing her business and setting up her factory.

She said she had reached a point in her entrepreneurial journey where hard work alone was no longer sufficient, and that what she needed most was capital to scale.

"Day and night all I ever did was to work, work and work," she said in the video.

The businesswoman added that this was the first time she had ever participated in an ajo scheme, making the betrayal feel even more personal.

July was supposed to be her turn to collect the pooled contributions, a milestone she had worked towards for months.

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Instead, the coordinator failed to pay, and what followed was a series of unproductive meetings and a police report that has so far yielded no results.

Beyond the financial damage, she described a deep sense of lost hope, explaining that saving towards a goal creates an emotional architecture, a vision of where one's life and business will be at a specific point in time. Having that dismantled overnight, she said, was as painful as the money itself.

Nigerians React to the Viral Video

The post drew widespread sympathy and warnings from Nigerians who shared their own experiences with ajo schemes.

Freemaso said:

"Remember when I first open store for my wife then she join one ajo collected two number after I told her not to join she did behind me na so she lost 400k for provision business she just started then thank God she got to know quickly that she won't get her money back."

Henrie said:

"For some reason, i see ajo contribution as payment of debt especially when you have taken your turn. This is why I invest in apps that allows you to save and even earn interest on them."

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Motunrayo added:

"This is so sad. The organizers are wicked and should be seriously dealt with. If you must do ajo, do with people that you know very well ooo."

See the post below:

Businesswoman loses N300k in new scam

Meanwhile, Legit.ng previously reported that an Ibadan-based businesswoman shared her experience after falling victim to scammers selling fake product.

The entrepreneur decided to warn her colleagues, disclosing the huge sum of money she had lost before she knew she had been scammed.

Source: Legit.ng