The Economic and Financial Crimes Commission (EFCC) on Tuesday explained the reason behind operatives from its Enugu Zonal Directorate making arrests at the Urban Radio 95.5FM, Enugu, on Monday.
Giving the facts behind the arrests in a statement made available to the Nigerian Tribune, EFCC spokesman Dele Oyewale stated that the operatives went to the radio station to invite a host of a program running on the station, Prime Time, one Favour Ekoh.
According to Oyewale, Ekoh was being investigated by the commission in an alleged N700 million Ponzi scheme fraud involving about 50 victims.
He stated that the victims alleged that Ekoh lured them into investing in a scheme called “Life Trading” in a company, Leverage Index Limited, where they were offered returns on investment of 10 per cent of their capital after a period of time, which did not materialise as the company closed its office after they made the investment.
“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.
“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 called “Life Trading” in a company, Leverage Index Limited, where they were offered returns on investment of 10 per cent 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,” the EFCC spokesman stated.
He further explained that the operatives, who were with a warrant of arrest for the suspect, after informing the station’s managing director of their mission, were later locked inside the station on the instruction of the station’s chairman.
This, according to Oyewale, prompted the operatives to call for reinforcement from their office, following which the managing director, Ekoh, and two guards were arrested.
“At the radio station, operatives of the commission, holding a warrant of arrest for Ekoh, identified themselves as officers of the EFCC. They informed the Managing Director of the Station, Bamikole Owoyomi, about their mission.
“However, in a rather strange twist, a staff member 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 Omoyomi, Ekoh, and the two security guards that locked them within the premises of the station.”
Oyewale stated that 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.
According to the spokesman, “She was neither arrested while on air nor any disruption of the lawful activities of the radio station took place.
“No equipment of 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 duty. They also made statements to that effect and had since been released,” he stated.
While calling on both the International Press Institute (IPI) and the Nigerian Union of Journalists (NUJ) to investigate the conduct of Urban Radio, Enugu, in the light of integrity and ethical professional practice, Oyewale stated that EFCC held the media in high esteem both as a critical stakeholder and as the Fourth Estate of the Realm.
According to him, “The EFCC holds the media in high esteem both as the fourth estate of the realm and 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.”
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