EFCC Arrests Five Herbalists Over $3.4m, €280,000 Counterfeit Currency in Osun, Lagos
Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested five suspected members of a fraud syndicate in possession of a large cache of counterfeit foreign currency valued at $3.43 million and €280,000.
The suspects—Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female), and Familola Sunday Olaitan—were apprehended on December 7 and 8, 2025, at their shrines in Osun and Lagos States, following sustained intelligence gathering and surveillance.
According to the EFCC, the arrests are linked to the alleged defrauding of one Halima Sanni, who reportedly lost N26.55 million to the syndicate.
Preliminary investigations revealed that the suspects, who presented themselves as herbalists, allegedly deceived victims under the guise of offering spiritual cleansing and remedies for various ailments. They were also accused of claiming the ability to produce large sums of money through spiritual means, which they said required ritual “cleansing” by a supernatural entity before the funds could be spent.
Victims were reportedly hypnotised and persuaded to provide money for these supposed spiritual sacrifices.
In addition to the counterfeit currencies, EFCC operatives recovered two exotic vehicles and several mobile phones from the suspects.
The commission stated that the suspects will be arraigned in court upon the conclusion of investigations.
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