EFCC nabs five herbalists over a multi-million naira fraud, recovering $3.43m and €280k counterfeit currencies in Osun and Lagos States.
EFCC nabs five herbalists allegedly involved in a multi-million naira fraud, recovering counterfeit foreign currencies worth $3.43 million and €280,000. The arrests were carried out by operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
The anti-graft agency disclosed this in a statement shared on its official X (formerly Twitter) handle on Wednesday, confirming that the suspects were arrested on December 7 and 8, 2025, at their various shrines located in Osun and Lagos States.
According to the EFCC, the five-member syndicate allegedly swindled a victim identified as Halima Sanni of the sum of ₦26,550,000 under the guise of spiritual cleansing and wealth rituals.
The statement revealed that huge counterfeit foreign notes totaling $3,430,000 (Three Million, Four Hundred and Thirty Thousand US Dollars) and €280,000 (Two Hundred and Eighty Thousand Euros) were recovered from the suspects during coordinated operations.
The suspects were identified as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female), and Familola Sunday Olaitan.
EFCC investigators said the herbalists targeted unsuspecting individuals by promising spiritual solutions to personal and health challenges, while also claiming they could magically conjure large sums of money.
The suspects allegedly told victims that the conjured foreign currencies needed spiritual cleansing through sacrifices before they could be spent, a process that required victims to provide large amounts of cash.
The EFCC added that the victims were hypnotised into cooperating and handing over money for the supposed spiritual sacrifices.
In addition to the fake foreign currencies, the commission confirmed that two exotic cars and several mobile phones were also recovered from the suspects during the operation.
The EFCC stated that all five suspects are currently in custody and will be charged to court once investigations are concluded.
This arrest adds to the EFCC’s ongoing efforts to dismantle fraud networks across the country. The agency recalled that its Ilorin Zonal Command last year arrested 48 suspected internet fraudsters alongside a herbalist in Lokoja, Kogi State, for related offences.
EFCC Nabs Five Herbalists with $3.43M, €280K Fake Currencies
Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have dismantled a five-member syndicate of herbalists allegedly involved in a multi-million naira fraud, recovering $3,430,000 and €280,000 in counterfeit foreign currencies. This case highlights the EFCC’s ongoing efforts to curb financial crimes in Nigeria.
Details of the Arrest
According to an X post by EFCC via Punch, the arrests, which took place on December 7 and 8, 2025, occurred at the suspects’ shrines in Osun and Lagos states after allegedly swindling a victim, Halima Sanni, of N26,550,000.
How the Syndicate Operated
The herbalists, identified as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan, and Familola Sunday Olaitan, reportedly targeted unsuspecting individuals by promising spiritual cleansing and solutions to various ailments. They allegedly convinced victims to provide money for spiritual sacrifices that would conjure currency notes.
Items Recovered
In addition to the counterfeit money, EFCC recovered two exotic cars and multiple mobile phones from the suspects. The agency confirmed that the herbalists remain in custody and will be charged to court after investigations are concluded.
Previous Related Arrests
Similar actions have been taken in the past, such as the Ilorin Zonal Command arresting 48 suspected internet fraudsters and a herbalist for conspiracy and obtaining money under false pretence in Lokoja, Kogi State. For latest updates, check HotGistLoaded.
Read more about recent scams and fraud cases on our related article.