Isaac Fayose recounted his frustrating experience with employee theft after investing ₦105 million to open an amala restaurant in Abuja with the goal of creating jobs. He revealed that his staff systematically stole from the business, leading to its collapse and sale at a significant loss within just five months.
During his appearance on “The Honest Bunch Podcast,” Fayose explained that the employees not only stole two generators to disrupt POS transactions but also diverted customer payments to their personal accounts, effectively running the business into the ground. This experience, he said, highlights a major challenge of running a business in Nigeria.
Fayose recalled: “I opened an amala restaurant last year. I said, ‘Let me create jobs.’ ₦105 million in Abuja. Let me at least take 50 people out of poverty. My brother, they chopped the amala restaurant and finished it in five months. First, they stole two generators so my POS wouldn’t work, then they started telling customers to transfer to their accounts… They turned me into a national cake. They didn’t know they were destroying themselves because I created that job for them. They are out of a job now, and I have scrapped the place and sold it for ₦58 million. Investment gone.”
