The Economic and Financial Crimes Commission (EFCC) on Monday conducted a raid on Urban Radio 94.5 FM in Enugu State. The operation was aimed at arresting Favour Ekoh, a radio presenter accused of involvement in a N700 million Ponzi scheme that defrauded approximately 50 victims.
According to EFCC spokesperson Dele Oyewale, Ekoh allegedly enticed individuals into investing in "Life Trading" through Leverage Index Limited, promising them a 10% return on their capital. However, the company closed its office without returning the investors' principal or promised returns.
During the raid, EFCC operatives, who were armed with a warrant, faced resistance from the radio station's staff. The Managing Director, Bamikole Owoyomi, and two security guards were arrested for obstructing justice after they locked the gates, effectively holding the EFCC officers hostage.
Despite the initial hostility, no equipment was damaged, and Ekoh, along with the other detained staff members, was released after making statements at the EFCC's Enugu office.
The EFCC emphasized the importance of media cooperation in combating economic crimes but condemned the unlawful obstruction by the radio station's personnel. The commission also questioned Ekoh's professional credentials, given her alleged central role in the fraudulent scheme.
The EFCC has called on the International Press Institute and the Nigerian Union of Journalists to investigate the conduct of the radio station in light of these events.
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