The Economic and Financial Crimes Commission has said it will prosecute five herbalists arrested at shrines in Lagos and Osun states over the alleged possession of fake $3.4 million and €280,000.
The EFCC disclosed in a statement posted on its Facebook page on Wednesday that the arrests followed a report that the suspects allegedly swindled one Halima Sanni of N26m.
According to the commission, the suspects were involved in defrauding unsuspecting members of the public under the guise of providing spiritual cleansing.
The statement also noted that the suspects claimed they could conjure foreign currencies and hypnotised their victims into providing money for sacrifices purportedly required to produce the funds.
The statement read, “The herbalists, Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female), and Familola Sunday Olaitan, were arrested on December 7 and 8, 2025, at their shrines in Osun and Lagos states, respectively, following thorough surveillance and intelligence on their fraudulent activities.
“Investigation revealed that the suspects allegedly defrauded unsuspecting individuals of their legitimate earnings under the pretence of providing spiritual cleansing and solutions to different ailments.
“They also allegedly assured their victims of their powers to conjure various currency notes, which they claimed must be spiritually cleansed by a genie through sacrifices before being spent. They reportedly achieved this by hypnotising their victims into providing money for the sacrifices.”
The EFCC said other exhibits, including exotic cars and mobile phones, were recovered from the suspects during the arrests.
It added that the suspects would be charged in court upon the conclusion of investigations.
“Other items recovered from them include two exotic cars and mobile phones.
“The suspects will be charged to court as soon as investigations are concluded,” the statement added.
This is not the first time the anti-graft agency has arrested individuals over fake currencies.
PUNCH Metro reported on May 31 that the Kano Zonal Office of the EFCC launched an investigation following the arrest of two men allegedly found with $899,800 in counterfeit currency.
The commission said the suspects were arrested by operatives of the National Drug Law Enforcement Agency along Maiduguri Road in Wudil, Kano State, while they were travelling in a commercial vehicle.
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