The Financial and Monetary Crimes Fee has arrested a radio host, Favour Ekoh, in reference to an alleged N700 million Ponzi scheme.
Ekoh, who anchors the “Prime Time” program on City Radio 94.5FM Enugu, is accused of luring unsuspecting buyers right into a fraudulent funding scheme, promising exorbitant returns.
This was once contained in a commentary issued via the EFCC’s Head of Media and Exposure, Dele Oyewale, on Tuesday.
In line with the commentary, “On Monday, October 14, 2024, a team of operatives from the Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, visited Urban Radio Enugu to invite Favour Ekoh for questioning regarding her involvement in an alleged N700 million Ponzi scheme fraud, which has affected about fifty victims.”
Oyewale defined that Ekoh allegedly lured her sufferers into making an investment in a scheme referred to as Generation Buying and selling below Leverage Index Restricted, the place she promised a ten consistent with cent go back on funding.
“The victims claimed that after investing their money in the company located at No. 1 Colliery Street, Okpara Avenue, Enugu, the company shut down operations without returning their principal or profits,” he added.
The EFCC commentary viewable that Ekoh was once the main hyperlink to the sufferers, lots of whom have been left stranded next the corporate’s unexpected disappearance.
“Ekoh’s role as the host of Prime Time made her a trusted figure, which she allegedly exploited to promote the fraudulent scheme,” the EFCC mentioned.
The commentary additional striking the arrest operation. “When our operatives arrived on the radio station, protecting a warrant for Ekoh’s arrest, they known themselves to the station’s Managing Director, Bamikole Owoyomi, and defined their undertaking.
“However, a staff member called the Chairman of the station, who ordered that the building’s gates be locked, effectively holding our officers hostage.”
The EFCC added that the status necessitated a rescue operation. “In response to the unlawful detention of our officers, a rescue team was deployed, leading to the arrest of Owoyomi, Ekoh, and two security guards involved in the obstruction. The operatives acted within the law, and no equipment at the radio station was tampered with.”
Oyewale clarified that Ekoh was once now not arrested year on breeze, stressing that “the nature of the fraudulent dealings required a sting operation to ensure her apprehension.”
Later being allowed to create a commentary on the EFCC Enugu workplace, Ekoh, along side Owoyomi and the protection guards, was once absolved.
“Owoyomi and the guards were arrested for obstructing justice but have since been released after making their statements,” the EFCC added.
The EFCC reiterated its recognize for the media because the fourth property of the area and a important stakeholder within the battle in opposition to corruption.
On the other hand, the fee condemned the movements of the radio station’s workforce, declaring, “The precipitate and unlawful obstruction of EFCC officers from carrying out their duties is unacceptable.”
The commentary concluded via wondering the pro credentials of Ekoh, describing her involvement within the N700 million Ponzi scheme as a grave breach of folk accept as true with.
“We call on the Nigerian Union of Journalists (NUJ) and the International Press Institute (IPI) to investigate the conduct of both Ekoh and Urban Radio Enugu in this matter, as it touches on the integrity and ethical practices of the media.”