Connect with us
X
Categories:

News

EFCC arrests radio host over N700m Ponzi scheme

Published

on

EFCC
Share this post:

DOWNLOAD MP3 SONG

A radio personality named Favour Ekoh has been arrested by the Economic and Financial Crimes Commission in relation to a purported N700 million Ponzi scheme.

The host of the “Prime Time” show on Urban Radio 94.5FM Enugu, Ekoh, is charged with tricking unwary investors into a fraudulent investment scheme by promising them enormous profits.

This was contained in a statement issued by the EFCC’s Head of Media and Publicity, Dele Oyewale, on Tuesday.

According to the statement, “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 explained that Ekoh allegedly lured her victims into investing in a scheme called Life Trading under Leverage Index Limited, where she promised a 10 per cent return on investment.

“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 statement revealed that Ekoh was the primary link to the victims, many of whom were left stranded after the company’s sudden 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 stated.

The statement further detailed the arrest operation. “When our operatives arrived at the radio station, holding a warrant for Ekoh’s arrest, they identified themselves to the station’s Managing Director, Bamikole Owoyomi, and explained their mission.

“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 situation 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.”

RECOMMENDED  Yahaya Bello: ‘Nothing to hide’ as he honour EFCC invitation

Oyewale clarified that Ekoh was not arrested while on air, stressing that “the nature of the fraudulent dealings required a sting operation to ensure her apprehension.”

After being allowed to make a statement at the EFCC Enugu office, Ekoh, along with Owoyomi and the security guards, was released.

“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 respect for the media as the fourth estate of the realm and a critical stakeholder in the fight against corruption.

However, the commission condemned the actions of the radio station’s staff, stating, “The precipitate and unlawful obstruction of EFCC officers from carrying out their duties is unacceptable.”

The statement concluded by questioning the professional credentials of Ekoh, describing her involvement in the N700 million Ponzi scheme as a grave breach of public trust.

“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.”


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Chief Oyerigha Echo Toikumoh - The Earlier The Better
Music4 days ago

[Music] Chief Oyerigha Echo Toikumoh – The Earlier The Better

Enzo Maresca and Mikel Arteta stated they will not take Pep Guardiola's place at Manchester City
Sports4 days ago

Enzo Maresca and Mikel Arteta stated they will not take Pep Guardiola’s place at Manchester City

Alan Shearer reckons Liverpool star is ‘not going to get better’
Sports4 days ago

Alan Shearer reckons Liverpool star is ‘not going to get better’

NECO examiners threaten nationwide protest over unpaid entitlements
News4 days ago

NECO examiners threaten nationwide protest over unpaid entitlements

Jonathan congratulates Trump on historic election win
News4 days ago

Jonathan congratulates Trump on historic election win

Peter Obi can become president in 2027 — Yunusa Tanko
News4 days ago

Peter Obi can become president in 2027 — Yunusa Tanko

Dua Lipa forced to cancel show after ‘unforeseen safety issues’
Entertainment4 days ago

Dua Lipa forced to cancel show after ‘unforeseen safety issues’

Uzoamaka Onuoha wins Best Female Performance in a feature at AFRIFF 2024
Entertainment4 days ago

Uzoamaka Onuoha wins Best Female Performance in a feature at AFRIFF 2024

'Phoenix Fury' bags Best Film award at the 13th edition of AFRIFF
Entertainment4 days ago

‘Phoenix Fury’ bags Best Film award at the 13th edition of AFRIFF

Vivo begins teasing new Dimensity 9400 flagships internationally
Technology5 days ago

Vivo begins teasing new Dimensity 9400 flagships internationally

Google Pixel 11 and Pixel 11 Pro may trade performance gains for longer battery life
Technology5 days ago

Google Pixel 11 and Pixel 11 Pro may trade performance gains for longer battery life

Manchester United players warned ‘only one is safe’ under Ruben Amorim
Sports5 days ago

Manchester United players warned ‘only one is safe’ under Ruben Amorim

Austin DeAnda given impromptu makeover after he is forced to have haircut in the middle of fight
Sports5 days ago

Austin DeAnda given impromptu makeover after he is forced to have haircut in the middle of fight

IG orders punishment for errant cops
News6 days ago

IG orders punishment for errant cops

Be ready to recover stolen mandate — Ighodalo tells PDP
News6 days ago

Be ready to recover stolen mandate — Ighodalo tells PDP

No part of Ogun will be ceded under my watch — Dapo Abiodun
News6 days ago

No part of Ogun will be ceded under my watch — Dapo Abiodun

Ruger calls out auto tune and hype culture in music
Entertainment6 days ago

Ruger calls out auto tune and hype culture in music

I hate to play same role repeatedly — Actress Bimbo Akintola
Entertainment6 days ago

I hate to play same role repeatedly — Actress Bimbo Akintola

Fans split on Davido, Wizkid, and Burna Boy's Grammy nominations.
Entertainment6 days ago

Fans split on Davido, Wizkid, and Burna Boy’s Grammy nominations

Samsung Galaxy S25 Slim: Leaker reveals launch details for Samsung's rival iPhone 17 Air
Technology6 days ago

Samsung Galaxy S25 Slim: Leaker reveals launch details for Samsung’s rival iPhone 17 Air

Realme names first smartphone to get Android 15 beta worldwide
Technology6 days ago

Realme names first smartphone to get Android 15 beta worldwide

England interim manager tipped for surprise Premier League job
Sports6 days ago

England interim manager tipped for surprise Premier League job

Hakim Ziyech mocks Israeli supporters attacked in Amsterdam
Sports6 days ago

Hakim Ziyech mocks Israeli supporters attacked in Amsterdam

Court jails seven for internet fraud in Kaduna
News6 days ago

Court jails seven for internet fraud in Kaduna

Edo APC criticizes Obaseki’s last-minute appointments
News6 days ago

Edo APC criticizes Obaseki’s last-minute appointments

Edo PDP announces caretaker committee
News6 days ago

Edo PDP announces caretaker committee

Tems makes history after securing 3 nominations for the 67th Grammys
Entertainment6 days ago

Tems makes history after securing 3 nominations for the 67th Grammys

Beyoncé surpasses Jay-Z to become the most nominated artist in Grammy history
Entertainment6 days ago

Beyoncé surpasses Jay-Z to become the most nominated artist in Grammy history

Davido, Wizkid, Tems, Asake make 2025 Grammy nominations
Entertainment6 days ago

Davido, Wizkid, Tems, Asake make 2025 Grammy nominations

Davido, Wizkid, Tems, Asake make 2025 Grammy nominations
Entertainment6 days ago

2025 GRAMMY: Academy unveils category changes ahead of nomination event

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories6 days ago

[STORY] THE PASTOR’S DAUGHTER (Final Episode 13)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories6 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 12)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories6 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 11)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 10)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 09)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 08)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 07)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 06)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 05)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 04)

General7 days ago

[Music] Diddy – Dirty Money – “Coming Home” Feat. Skylar Grey

General7 days ago

[Music] Journey – Don’t Stop Believin’

General7 days ago

Justin Timberlake – Mirrors [LYRICS]

Ed Sheeran
Lyrics7 days ago

Ed Sheeran – Perfect [LYRICS]

Music7 days ago

[Music] Tatiana Manaois – Live Better

General7 days ago

[Music] Journey – Faithfully

General7 days ago

Lil Dicky ft. Chris Brown – Freaky Friday [LYRICS]

General7 days ago

[Music] Eminem – “No Love” Feat. Lil Wayne

General7 days ago

[Music] Tatiana Manaois – Hey Little Lady

General7 days ago

[Music] Celine Dion – I Drove All Night

Music7 days ago

[Music] Tatiana Manaois – Then I Saw You

General7 days ago

[Music] African China – Baba God

General7 days ago

Eminem – “No Love” Feat. Lil Wayne [LYRICS]

General7 days ago

James Blunt – You’re Beautiful [LYRICS]

General7 days ago

James Blunt – Goodbye My Lover [LYRICS]

General7 days ago

African China – Baba God [LYRICS]

General7 days ago

Major Lazer – “Particula” Feat. Nasty C , Ice Prince, Patoranking & Jidenna [LYRICS]

General7 days ago

Lil Wayne – Uproar [LYRICS]

General7 days ago

21 Savage – Bank Account [LYRICS]

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories7 days ago

[STORY] PAPA LOVES HIS GIRLS (Complete Episodes)

Music7 days ago

[Music] Tatiana Manaois – Buzz Kill

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Complete Episodes)

General7 days ago

Diddy – Dirty Money – “Coming Home” Feat. Skylar Grey [LYRICS]

General7 days ago

Eminem – Not Afraid [LYRICS]

General7 days ago

Machine Gun Kelly (MGK) “Home” Feat X Ambassadors & Bebe Rexha [LYRICS]

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 05)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 06)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 01)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories6 days ago

[STORY] THE PASTOR’S DAUGHTER (Final Episode 13)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 09)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 07)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 10)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories6 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 12)

General7 days ago

Nasty C ft. ASAP Ferg – King [LYRICS]

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories7 days ago

[STORY] PAPA LOVES HIS GIRLS (Episode 16)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories7 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 08)

The Pastor Daughter Story by Miriam Edem _ ANE Story
ANE Stories6 days ago

[STORY] THE PASTOR’S DAUGHTER (Episode 11)

General7 days ago

Eminem – “Love The Way You Lie” Feat. Rihanna [LYRICS]

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories7 days ago

[STORY] PAPA LOVES HIS GIRLS (Episode 15)

Papa Loves His Girls by Opeyemi Ojerinde Akintunde_ANE Stories
ANE Stories7 days ago

[STORY] PAPA LOVES HIS GIRLS (Episode 13)

ANE Billboard Hots



Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.