Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested five suspected fraudsters described as herbalists, following the recovery of counterfeit foreign currencies valued at $3.43 million and €280,000 in Osun and Lagos states.
The suspects—Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan and Familola Sunday Olaitan—were arrested on December 7 and 8, 2025, at their respective shrines after weeks of surveillance and intelligence gathering by EFCC operatives.
According to the commission, the arrests stemmed from a petition alleging that the suspects defrauded one Halima Sanni of N26.55 million under false pretences. Investigations revealed that the syndicate allegedly targeted unsuspecting victims by claiming to offer spiritual cleansing and remedies for various ailments.
The EFCC said the suspects further claimed to possess supernatural powers to conjure foreign currencies, which they allegedly told victims required spiritual “cleansing” by a genie through sacrifices before the money could be spent. Victims were reportedly hypnotised and induced to provide funds purportedly meant for the sacrifices.
Items recovered during the operation include large consignments of counterfeit United States dollars and euros, two exotic vehicles and several mobile phones.
The EFCC said the suspects would be charged to court upon the conclusion of investigations.
