EFCC Arrests Herbalists Over $3.4 Million, €280,000 Counterfeit Notes in Osun, Lagos

By Micheal Chukwuebuka

Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have uncovered large consignments of counterfeit foreign currency amounting to $3.43 million and €280,000 in the possession of a five-member syndicate in Osun and Lagos States.

The suspects were arrested for allegedly defrauding a victim, identified as Halima Sanni, of ₦26.55 million. Those arrested are Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female), and Familola Sunday Olaitan, all described as herbalists.

According to the EFCC, the arrests were carried out on 7 and 8 December 2025 at the suspects’ shrines in Osun and Lagos following extensive surveillance and intelligence gathering into their activities.

Preliminary investigations revealed that the suspects allegedly swindled unsuspecting individuals under the guise of offering spiritual cleansing and remedies for various ailments. They reportedly claimed to possess the power to conjure large sums of currency, which they said required spiritual “cleansing” by a genie through sacrifices before the money could be spent.

Investigators said the group allegedly hypnotised their victims into providing funds purportedly needed for the sacrifices.

Items recovered from the suspects include the counterfeit foreign notes, two exotic vehicles, and several mobile phones.

The EFCC stated that the suspects will be arraigned in court upon the conclusion of investigations.