Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested five herbalists over alleged possession of counterfeit foreign currencies valued at $3.43 million and €280,000 in Osun and Lagos states.
The commission disclosed this in a statement made available to the public via its social media accounts on Wednesday.
According to the EFCC, the suspects were arrested following intelligence-led surveillance on their alleged involvement in fraud.
“Operatives of the Ibadan Zonal Directorate of the EFCC uncovered huge counterfeit foreign notes to the tune of $3,430,000 and €280,000 in the possession of a five-member syndicate,” the statement said.
The suspects were identified as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female) and Familola Sunday Olaitan.
The commission said the suspects were arrested on Dec. 7 and 8, 2025, at their shrines in Osun and Lagos states, respectively, for allegedly swindling one Halima Sanni of N26.55 million.
“The suspects allegedly defrauded the victim under the pretence of providing spiritual cleansing and solutions to different ailments,” the EFCC stated.
It added that investigations revealed that the suspects assured their victims of having powers to conjure currency notes which, they claimed, must be spiritually cleaned by a genie through sacrifices before being spent.
“They allegedly hypnotised their victims to provide money for the supposed sacrifice,” the commission said.
The EFCC also disclosed that two exotic cars and mobile phones were recovered from the suspects during the operation.
“The suspects will be charged to court as soon as investigations are concluded,” the statement added.
