EFCC Arrests Herbalists with $3.43m, €280,000 Counterfeit Notes in Osun, Lagos

Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested a five-member syndicate of suspected herbalists over alleged involvement in fraud and possession of counterfeit foreign currencies amounting to $3.43 million and €280,000 in Osun and Lagos states.

The suspects were apprehended following intelligence-led surveillance linking them to the alleged swindling of one Halima Sanni of the sum of N26.55 million. According to the EFCC, the arrests were carried out on December 7 and 8, 2025, at different shrines operated by the suspects in Osun and Lagos.

Those arrested were identified as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan, and Familola Sunday Olaitan. Investigations revealed that the group allegedly operated as a syndicate, targeting unsuspecting victims under the guise of offering spiritual cleansing and solutions to various ailments.

The commission disclosed that the suspects allegedly convinced their victims that they possessed mystical powers to conjure foreign currencies, which they claimed had to be spiritually cleansed by a genie through sacrifices before being spent. Victims were reportedly hypnotised and persuaded to provide large sums of money for the purported sacrifices.

Items recovered from the suspects during the operation included the counterfeit foreign notes, two exotic cars, and several mobile phones believed to have been used in carrying out the alleged fraudulent activities.

The EFCC stated that investigations are ongoing and assured that the suspects would be charged to court upon the conclusion of the probe.