EFCC Nabs ‘Money-Doubling’ Herbalists With $3.4m, €280,000 Fake Notes In Osun, Lagos

Abuja,  Nigeria– Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested five self-styled herbalists and uncovered a massive cache of counterfeit foreign currencies valued at $3.43 million and €280,000 in Osun and Lagos States.

The suspects were arrested over their alleged involvement in a sophisticated scam that reportedly saw them defraud a victim, Halima Sanni, of ₦26.55 million, under the guise of providing spiritual solutions and money rituals.

Those arrested are Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female) and Familola Sunday Olaitan.

EFCC said the suspects were picked up on December 7 and 8, 2025, during coordinated operations at their shrines following weeks of surveillance and actionable intelligence on their activities.

According to the Commission , the syndicate allegedly preyed on unsuspecting members of the public by claiming to possess supernatural powers to heal ailments and perform “spiritual cleansing.”

Victims were also reportedly lured with promises of instant wealth through the conjuring of foreign currencies.

EFCC officials disclosed that the suspects allegedly convinced their victims that large sums of money could be spiritually produced but would first require cleansing by a mystical genie through sacrifices.

Victims were then hypnotised and persuaded to part with huge sums of money to fund the so-called rituals.

During the raids, EFCC operatives recovered the counterfeit foreign notes, two exotic cars, and several mobile phones believed to have been used in carrying out the fraudulent scheme.

The anti-graft agency said investigations are ongoing and assured that the suspects will be charged to court as soon as the probe is concluded.