Panic and protest erupted in Osogbo, Osun State, following the disappearance of operators of a foodstuff outlet accused of collecting advance payments from hundreds of customers before allegedly shutting down.

The store, located around Odi Olowo, opposite the NEPA office, had reportedly attracted customers for months by selling food items at heavily discounted prices, with some products offered at up to 80 per cent below prevailing market rates.

A 50kg bag of rice reportedly sold for between N60,000 and N70,000 in the market was offered for as low as N20,000 to N30,000, while a carton of Indomie noodles costing about N14,000 was reportedly sold for between N5,000 and N7,000, depending on the quantity ordered.

Other food items, including semovita, vegetable oil, beans and spaghetti, were also reportedly sold at discounts of at least 50 per cent.

However, customers were required to wait about seven days for their orders to be processed and collected.

The latest sales campaign was promoted extensively on social media, attracting hundreds of customers from across the state who made advance payments in anticipation of another scheduled collection day.

However, when customers arrived at the outlet on Monday for collection, they reportedly found the premises empty and were unable to reach the operators on their telephone lines.

The development sparked panic among the affected customers and led to police intervention, with the victims calling for an investigation and the recovery of their funds.

The incident has also drawn comparisons with a similar alleged food investment scheme previously reported in the same Odi Olowo area, involving Hero’s Merchant, also known as Hero’s Capital.

A similar incident was reported in Auchi, Edo State, in July last year, where a man reportedly sold 50kg bags of rice for N20,000, despite the prevailing price being about N60,000, claiming the scheme was linked to Federal Government subsidies and palliatives.

Reports indicated that he sometimes sold more than 100 bags of rice in a day.

After collecting payments from more than 1,000 customers, he allegedly disappeared, leaving victims who later estimated their collective losses at between N20 million and N30 million.