SAVE THIS ARTICLE AS PDF TO READ DEEPER.On Tuesday, the Economic and Financial Crimes Commission arrested a radio host, Favour Ekoh, in connection with an alleged N700 million Ponzi scheme.
The anti-graft agency accused Ekoh, who anchors the “Prime Time” program on Urban Radio 94.5FM in Enugu State, of luring unsuspecting investors into a fraudulent investment scheme by promising exorbitant returns.
Oyewale said, “On Monday, October 14, 2024, a team of operatives from the Enugu Zonal Directorate of the Economic and Financial Crimes Commission visited Urban Radio Enugu to invite Favour Ekoh for questioning regarding her involvement in an alleged N700m Ponzi scheme fraud, which has affected about 50 victims.”“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.”
Oyewale added 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 added that the situation necessitated a rescue operation.
Oyewale said, “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.”
Oyewale noted 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.
