A UK-based man has shared the heartbreaking story of losing £12,000 (N24M) in a thrift savings scheme after the collector passed away unexpectedly.
In a viral post on X (formerly Twitter), user @tobyasky detailed the incident, revealing the emotional and financial toll it has taken. The man described how the incident has not only affected him financially but also emotionally, leaving him devastated and helpless.
The thrift scheme, commonly known as ajo, involved 12 close-knit members contributing £1,000 monthly. One member would take home the sum of £12,000, and the arrangement ran smoothly for months. It was a trust-based system where each member relied on the integrity of the group, never expecting any issues to arise. Everyone was familiar with each other, and no one had ever doubted the process.
However, tragedy struck in July, when it was @tobyasky’s turn to collect. The group’s collector, Kola, had been unresponsive for two days before the payout. This sudden lack of communication raised concerns, but no one initially thought that something serious might have happened. The members continued to wait, assuming everything was fine and that Kola was simply unavailable for a short while.
How I lost £12,000 to thrift contribution
“This year wasn’t funny. I was part of a monthly “ajo” contribution group. We knew each other well, all 12 of us, no stranger amongst us.
We contributed £1,000, and every month, one person took home £12,000. It was built on trust, and we’d never envisage or even had any issues. It was finally my turn to collect sometimes in July.
I’d already planned how I would use the money, pay off some debts and invest the rest. I had a clear vision for the funds and was looking forward to turning my financial situation around with the money I was about to receive.
We have a group chat but Kola (the guy who holds the money) has not been really active for about 2 days, nobody had anything to worry about though. I called Kola repeatedly on the day of the payout, but there was no answer. I figured he might just be busy or occupied with something urgent.
Then, a few days later, his wife called one of us, sobbing. Kola had passed away that some days ago. We were in utter disbelief, shocked and struggling to come to terms with the news. We never imagined something like this would happen, especially at such a crucial time for me when I was counting on that money.
It took us one month to be able to ask Kola’s wife about the money just to be sensitive. When we eventually did, she had no idea about it. She was unaware of the scheme or any of the financial matters Kola had been handling. She was devastated by her husband's passing and was not in a position to address the funds.
To this day, we don’t know what happened to the money. The entire situation remains unresolved, and we are left in limbo, unsure whether the money was misplaced, stolen, or remains locked in some way. What started as a trusted arrangement has now turned into a financial nightmare for all involved.
