The Economic and Financial Crimes Commission (EFCC) has provided details regarding its raid on Urban 94.5 FM, a radio station in Enugu State.
On Monday night, October 14, 2024, EFCC operatives conducted the raid and arrested presenter Favour Ekoh during a live program. Three additional staff members were also detained, and equipment valued at millions of naira was allegedly seized.
EFCC spokesperson Dele Oyewale stated on Tuesday, October 15, that the agency’s purpose for being at the station was to invite Ekoh for questioning over her alleged involvement in a N700 million Ponzi scheme that defrauded approximately 50 victims.
According to Oyewale, the radio station’s chairman ordered the building’s gates locked, effectively holding the operatives hostage. He explained that the station’s Managing Director, Bamikole Owoyomi, along with two security guards, was arrested for obstructing justice after initially preventing the operatives from performing their duties.
Oyewale confirmed that the four staff members made statements and were subsequently released.
“On Monday, October 14, 2024, a team of operatives of the Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, comprising four officers were at Urban Radio 94.5FM, Enugu to invite one Favour Ekoh, host of Prime Time, a programme running at the Station,” the statement read.
“Ekoh is being investigated by the Enugu Zonal Directorate of the EFCC in an alleged N700 million Ponzi scheme fraud involving about Fifty (50) victims.
“According to the victims, Ekoh allegedly lured them into investing in a scheme ‘Life Trading’ in a company, Leverage Index Limited, where they were offered returns on investment of 10 percent of their capital after a period of time.
“The victims alleged that after investing their money into the company located at No. 1 Colliery Street, Okpara Avenue, Enugu State, the company closed its office with no return on investment or principal returned to the victims.
“Ekoh allegedly invited the victims into the business and she remained the only link the victims could hold. At the Radio Station, operatives of the Commission, holding a warrant of arrest for Ekoh, identified themselves as officers of the EFCC....Read Full Article [Click Here>]
“They informed the Managing Director of the Station, Bamikole Owoyomi, about their mission. However, in a rather strange twist, a staff of the Station called the Chairman of the Radio Station who ordered that the gate of the building be locked in and out, thereby holding the officers hostage.
“Faced with such hostility, they called for a rescue team which eventually arrested Owoyomi, Ekoh, and the two security guards who locked them within the premises of the Station.
“Ekoh had to be trailed to the Station for arrest because the nature of the fraudulent dealings necessitated a sting operation that would foreclose her escape or go underground.
“She was neither arrested while on air nor any disruption of the lawful activities of the Radio Station took place. No equipment at the Station was tampered with and she has since been released after being allowed to make a statement at the Enugu office.
“Owoyomi and the two security guards were arrested for obstruction of justice as they initially prevented the operatives from carrying out their official duties. They also made statements to that effect and have since been released.
“The EFCC holds the media in high esteem both as the fourth estate of the realm and a critical stakeholder in the fight against economic and financial crimes and other acts of corruption, but the precipitate and unlawful obstruction of officers of the Commission from carrying out their duties, by staff of the Radio Station, is unacceptable.
“Besides, the professional credentials of Ekoh, a principal suspect in a Ponzi scheme to the tune of N700m affecting 50 innocent Nigerians, are questionable.
“The Commission hereby calls on the International Press Institute (IPI) and the Nigerian Union of Journalists (NUJ) to investigate the conduct of the Station in the light of integrity and ethical professional practice.”
