Photos: EFCC Arrests Herbalists with $3.4 Million and €280,000 in Counterfeit Notes in Osun, Lagos

Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission have arrested five suspected herbalists in Osun and Lagos states over the possession of large consignments of counterfeit foreign currencies valued at $3.43 million and €280,000.

The suspects were apprehended following investigations into the alleged defrauding of one Halima Sanni of N26,550,000. The arrests took place on December 7 and 8, 2025, at the suspects’ shrines after sustained surveillance and intelligence gathering by the commission.

Those arrested were identified as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan, and Familola Sunday Olaitan. According to the EFCC, the suspects operated as a syndicate that targeted unsuspecting victims under the guise of providing spiritual cleansing and remedies for various problems.

Investigations revealed that the group allegedly deceived victims by claiming to possess supernatural powers to conjure large sums of money. Victims were reportedly told that the currency notes needed spiritual cleansing by a genie through sacrifices before they could be spent. In the process, the suspects allegedly hypnotised their victims into providing cash for the purported sacrifices.

Items recovered during the operation include the counterfeit foreign currencies, two exotic cars, and several mobile phones.

The EFCC stated that the suspects will be charged to court upon the conclusion of ongoing investigations.