EFCC Busts “Sp!r!tual” Fráud Ring, Seizes Over $3.4 Million in Fâke Currency from Hérbalists

Operatives from the Ibadan Zonal Command of the Economic and Financial Crimes Commission (EFCC) have dismantled a five-member syndicate, arresting traditional herbalists and seizing a massive haul of counterfeit foreign currency.

The suspects were apprehended on December 7 and 8, 2025, at their shrines in Osun and Lagos States following extensive surveillance and intelligence gathering. They are accused of defrauding a victim, Halima Sanni, of N26,550,000 (Twenty-Six Million, Five Hundred and Fifty Thousand Naira).

The investigation revealed that the syndicate, comprising Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female), and Familola Sunday Olaitan, operated a sophisticated scam. They allegedly targeted individuals by promising spiritual cleansing and cures for various ailments.

Their primary scheme involved convincing victims of their supernatural power to “conjure” large sums of money, which they claimed required a costly spiritual sacrifice to “cleanse” before being spent. They reportedly used hypnosis and manipulation to coerce victims into providing the funds for these fake rituals.

Seizures and Charges
During the raids, EFCC operatives uncovered the staggering counterfeit notes:

· $3,430,000 (Three Million, Four Hundred and Thirty Thousand US Dollars) in fake notes
· €280,000 (Two Hundred and Eighty Thousand Euros) in fake notes

Other items recovered include two exotic cars and several mobile phones. The EFCC has stated that the suspects will be arraigned in court as soon as investigations are finalized.