Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have uncovered a large cache of counterfeit foreign currencies amounting to $3, 430, 000 (Three Million, Four Hundred and Thirty Thousand United States Dollars) and €280, 000 (Two Hundred and Eighty Thousand Euros) from a five-member syndicate accused of defrauding one Halima Sanni of N26, 550, 000 (Twenty-Six Million, Five Hundred and Fifty Thousand Naira).
In a statement signed by the Head of Media and Publicity of the EFCC, Dele Oyewale, the suspects, described as herbalists, were arrested on December 7 and 8, 2025, at their shrines located in Osun and Lagos states, following sustained surveillance and intelligence gathering on their alleged fraudulent operations.
Investigations revealed that the suspects allegedly deceived victims into surrendering their hard-earned money under the guise of offering spiritual cleansing and remedies for various ailments.
They were also said to have claimed they possessed supernatural powers to produce large sums of currency, which they told victims needed to be spiritually “cleansed” by a genie through sacrifices before the money could be spent. Victims were reportedly hypnotised into providing funds for the supposed sacrifices.
Other items recovered from the suspects include two luxury vehicles and several mobile phones.
Oyewole added that the suspects would be arraigned in court once investigations into the matter are concluded.