The Economic and Financial Crimes Commission (EFCC) has arrested a radio host, Favour Ekoh, in connection with an alleged N700 million Ponzi scheme.
Ekoh, who anchors the “Prime Time” program on Urban Radio 94.5FM Enugu, is accused of luring unsuspecting investors into a fraudulent investment scheme, promising exorbitant returns.
According to the EFCC’s Head of Media and Publicity, Dele Oyewale, Ekoh allegedly lured her victims into investing in a scheme called Life Trading under Leverage Index Limited, where she promised a 10 per cent return on investment.
“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.
The EFCC stated that Ekoh’s role as the host of Prime Time made her a trusted figure, which she allegedly exploited to promote the fraudulent scheme.
Arrest Operation
On Monday, October 14, 2024, a team of operatives from the Enugu Zonal Directorate of the EFCC visited Urban Radio Enugu to invite Ekoh for questioning regarding her involvement in the alleged Ponzi scheme.
However, a staff member called the Chairman of the station, who ordered that the building’s gates be locked, effectively holding the EFCC officers hostage.
The EFCC added that the situation necessitated a rescue operation, leading to the arrest of Ekoh, the Managing Director, Bamikole Owoyomi, and two security guards involved in the obstruction.
After being allowed to make a statement at the EFCC Enugu office, Ekoh, along with Owoyomi and the security guards, was released.
The EFCC reiterated its respect for the media as the fourth estate of the realm and a critical stakeholder in the fight against corruption.
However, the commission condemned the actions of the radio station’s staff, stating, “The precipitate and unlawful obstruction of EFCC officers from carrying out their duties is unacceptable.”
The EFCC also questioned Ekoh’s professional credentials, describing her involvement in the N700 million Ponzi scheme as a grave breach of public trust.
“We call on the Nigerian Union of Journalists (NUJ) and the International Press Institute (IPI) to investigate the conduct of both Ekoh and Urban Radio Enugu in this matter, as it touches on the integrity and ethical practices of the media.”
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