The Economic and Financial Crimes Commission (EFCC) has arrested a popular radio programme host on Urban Radio 94.5FM, Enugu, Favour Ekoh, for allegedly swindling over 50 people N700 million through a Ponzi scheme in the state.
Also arrested by the anti-graft agency during the operation at the radio station premises were the Managing Director of the Station, Bamikole Owoyomi, and two security guards for preventing lawful arrest of suspect.
As gathered, Ekoh, who trailed to the station after ignoring the agency’s invitation, is being investigated by the Enugu Zonal Directorate of the EFCC.
The agency disclosed this on Tuesday while responding to reports that the anti-graft agency disrupted the radio station programme and seized other items from the station during the arrest.
According to EFCC, “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 50 victims.
“According to the victims, Ekoh allegedly lured them into investing in a scheme “Life Trading” in a company, Leverage Index Limited, where they were offered returns on investment of 10 percent 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.
“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 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 who locked them within the premises of the Station.
“Ekoh had to be trailed to the Station for an arrest because the nature of the fraudulent dealings necessitated a sting operation that would foreclose her escape or going underground.
“She was neither arrested while on air nor any disruption of the lawful activities of the Radio Station took place. No equipment at 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.
“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”.
