Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested a five-member syndicate of self-styled herbalists over alleged involvement in large-scale fraud and possession of counterfeit foreign currencies valued at $3.43 million and €280,000.
The suspects were apprehended on December 7 and 8, 2025, at separate shrine locations in Osun and Lagos states following sustained intelligence gathering and surveillance on their activities. Those arrested were identified as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female), and Familola Sunday Olaitan.
According to the EFCC, the syndicate defrauded one Halima Sanni of N26.55 million under the guise of offering spiritual cleansing and solutions to personal challenges. Investigations revealed that the suspects preyed on unsuspecting victims by promising supernatural interventions, including claims that they could conjure large sums of money through spiritual means.
The commission said the suspects convinced victims that the purportedly conjured currency notes required ritual cleansing by a genie before they could be spent. Victims were reportedly hypnotised and induced to part with substantial sums of money to fund supposed spiritual sacrifices.
During the operation, EFCC operatives recovered counterfeit foreign notes amounting to $3,430,000 and €280,000, as well as two exotic cars and several mobile phones believed to have been used in the execution of the fraudulent scheme.
The EFCC stated that investigations are ongoing and that the suspects will be charged to court upon conclusion of the probe.
The development underscores the commission’s renewed warning to members of the public to be wary of individuals or groups who exploit religious or spiritual beliefs to perpetrate financial crimes, noting that such schemes often result in severe financial and emotional losses for victims.
The arrest was confirmed in a statement signed by the EFCC’s Head of Media and Publicity, Dele Oyewale.
