Economic and Financial Crimes Commission (EFCC)
The Economic and Financial Crimes Commission (EFCC) has announced plans to prosecute five herbalists arrested at shrines in Lagos and Osun states for allegedly possessing counterfeit $3.4 million and €280,000.
In a statement posted on its Facebook page on Wednesday, the EFCC revealed that the arrests followed a report that the suspects defrauded one Halima Sanni of N26 million. The commission said the herbalists lured unsuspecting victims under the guise of offering spiritual cleansing, claiming they could conjure foreign currencies and persuading clients to provide money for sacrifices supposedly required to generate the funds.
“The herbalists, Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan, and Familola Sunday Olaitan, were arrested on December 7 and 8, 2025, at their shrines in Osun and Lagos states following thorough surveillance and intelligence on their fraudulent activities,” the EFCC said.
Investigations revealed that the suspects allegedly defrauded innocent individuals of their legitimate earnings, assuring them that their spiritual powers could create currency notes after performing certain sacrifices. They reportedly hypnotised victims into handing over money for these rituals.
The EFCC also recovered two exotic cars, mobile phones, and other items from the suspects. The commission confirmed that the herbalists would be charged in court once investigations are concluded.
This is not the first time the EFCC has cracked down on counterfeit currency schemes. In May, the commission’s Kano Zonal Office investigated two men allegedly found with $899,800 in fake currency. The suspects were apprehended by the National Drug Law Enforcement Agency while traveling in a commercial vehicle along Maiduguri Road in Wudil, Kano State.
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