EFCC counterfeit currency seizure uncovers $3.4m and €280,000 fake notes as operatives arrest five suspects over alleged N26.5m fraud.
Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have uncovered huge counterfeit foreign notes to the tune of $3, 430, 000 (Three Million, Four Hundred and Thirty Thousand United States Dollars) and €280, 000 (Two Hundred and Eighty Thousand Euros) in possession of a five-member syndicate arrested for allegedly swindling one Halima Sanni the sum of N26, 550, 000 (Twenty-Six Million, Five Hundred and Fifty Thousand Naira).
The herbalists: Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female) and Familola Sunday Olaitan. were arrested on December 7 and 8, 2025 at their shrines in Osun and Lagos States respectively, following a thorough surveillance and intelligence on their fraudulent activities
Investigation revealed that the suspects were allegedly defrauding unsuspecting individuals of their legitimate earnings under the pretence of providing spiritual cleansing and solutions to different ailments.
They also allegedly assured their victims of their powers to conjure several currency notes which must be cleaned up by a genie through spiritual sacrifice before spending the money. They did all these by hypnotizing their victims to provide money for the sacrifice.
Other items recovered from them include two exotic cars and mobile phones.
The suspects will be charged to court as soon as investigations are concluded.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
