The EFCC arrested five herbalists in Osun and Lagos for $3.4M and €280K in counterfeit currency.
According to a statement on its official X account on Wednesday, the commission carried out the arrests.
Herbalists Arrested For Counterfeit Cash
First, operatives from the Ibadan Zonal Directorate traced the suspects to locations described as shrines.
The authorities identified the suspects as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan, and Familola Sunday Olaitan.
They apprehended the suspects on December 7 and 8, 2025 after weeks of surveillance and intelligence gathering.
Investigators revealed that the group defrauded victims by offering spiritual cleansing services.
For instance, one victim, Halima Sanni, reportedly lost ₦26.55 million to the syndicate’s schemes.
During the raids, EFCC operatives discovered $3.43M and €280K in counterfeit foreign notes.
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Moreover, the suspects claimed that the fake money required spiritual cleansing before anyone could use it.
In addition, authorities seized two luxury vehicles and several mobile phones from the syndicate.
The EFCC confirmed that it will charge the suspects in court once investigations conclude.
Officials explained that the case highlights the growing link between spiritual practices and financial fraud.
Meanwhile, neighbouring communities expressed shock at the scale of the syndicate’s alleged activities.
EFCC Strengthens Anti-Corruption Efforts
In its annual report, the EFCC highlighted that it recovered ₦364.5 billion, $326.5 million, and other assets.
Furthermore, the commission secured 4,111 convictions, marking a 53.7% increase from the previous year.
It also investigated 12,928 petitions and filed 5,081 cases in court.
Additionally, the EFCC seized properties, vehicles, cryptocurrency wallets, and other assets connected to corruption.
Oversight units monitored 2,348 high-risk businesses and tracked government fund disbursements to prevent fraud.
They also evaluated federal initiatives such as PI-CNG, NG-CARES, and CBN COVID-19 support schemes.
Public Warning Against Fraud
Finally, the EFCC continues to warn the public against fraudulent schemes disguised as spiritual or traditional services.
This arrest demonstrates that the agency actively combats complex financial crimes nationwide.
