Benin, Edo State – A fairly used electronics dealer, whose identity remains undisclosed, has tragically taken his own life in Benin City, Edo State, after grappling with a N1 million debt and mounting personal pressures.

The businessman, believed to be in his 50s and originally from South-Eastern Nigeria, reportedly died on Wednesday, August 27, 2025, after consuming a poisonous substance at an undisclosed location.

The deceased operated from a rented shop at Shop 24, House No. 2, Lawani Close, off Holy Cross Road, New Benin, in Oredo Local Government Area.

Sources close to the situation revealed that the businessman had been struggling with severe financial strain, including a loan from a new-generation bank, unpaid shop rent, and relentless pressure from creditors.

Additionally, he faced mental health challenges exacerbated by domestic issues, which reportedly compounded his distress.

A neighbor, speaking anonymously to TheNewspad, recounted a distressing encounter just 24 hours before the tragedy.

Bank officials had confronted the dealer at his shop, threatening arrest and prosecution over his alleged default on the loan repayment plan.

“We noticed he began to experience palpitations, and he was sweating profusely,” the neighbor said.

“Men don’t cry; they bottle up their emotions. And there is nothing that kills faster than when you can’t express yourself.”

The neighbor added that the bank officials agreed to return the following day after heated arguments, unaware of the impending tragedy.

The neighbor further disclosed that the businessman was also in arrears on his shop rent, which added to his overwhelming burden.

“His shop remains locked,” the source noted, highlighting the severity of his financial woes.

In a show of solidarity, traders along Lawani Close, Mission Road, and adjoining streets closed their shops on Friday, August 29, 2025, to observe a mourning ritual in honor of their departed colleague.

The incident has left the local community in shock, with customers, including electronics buyers and those seeking repairs, stranded and grieving the loss.

The businessman’s crestfallen family is reeling from the tragedy, which has sparked conversations about the pressures of debt and the need for mental health support.

Authorities have yet to release an official statement, and the exact circumstances surrounding the incident are still under investigation.

This heartbreaking event underscores the devastating impact of financial distress and untreated mental health challenges, leaving a void in the New Benin trading community.