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Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested five suspected herbalists and dismantled a syndicate allegedly involved in a large-scale fraud scheme involving counterfeit foreign currencies.
In a statement released on Wednesday via the anti-graft agency’s official X handle, the EFCC disclosed that the suspects were arrested in Osun, Oyo, and Lagos States, following weeks of intelligence gathering and surveillance.
According to the statement, the commission recovered $3,430,000 and €280,000 in counterfeit foreign currencies, alongside other incriminating items. The suspects allegedly defrauded a victim identified as Halima Sanni of ₦26,550,000.
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The EFCC identified the suspects as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female) and Familola Sunday Olaitan. They were reportedly arrested on December 7 and 8, 2025, at their shrines across Osun and Lagos States.
“The suspects were allegedly defrauding unsuspecting individuals of their legitimate earnings under the pretence of providing spiritual cleansing and solutions to different ailments,” the EFCC said.
Investigations further revealed that the group allegedly claimed they possessed supernatural powers to conjure foreign currencies, which they told victims needed to be spiritually cleansed by a genie through sacrifices before the money could be spent.
The agency alleged that victims were hypnotised and manipulated into providing large sums of money under the guise of facilitating spiritual sacrifices necessary to unlock the supposed wealth.
In addition to the fake foreign currencies, EFCC operatives recovered two exotic vehicles and several mobile phones believed to have been used in carrying out the fraudulent operations.
The commission stated that the suspects would be charged to court upon the conclusion of investigations, reiterating its commitment to cracking down on fraudulent schemes exploiting religious and spiritual beliefs.
The EFCC also warned the public to remain vigilant and avoid individuals or groups promising supernatural wealth or financial miracles.
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