EFCC Clarifies Incident at Urban Radio Enugu Over N700 Million Ponzi Scam Investigation

The Economic and Financial Crimes Commission (EFCC) has clarified the reported incident at Urban Radio 94.5FM, Enugu, on Monday, October 14. In a statement issued by EFCC Head of Media and Publicity, Dele Oyewale, the commission explained that four officers from its Enugu Zonal Directorate visited the radio station to invite Favour Ekoh, the host of *Prime Time*, for questioning over her alleged involvement in a N700 million Ponzi scheme.

Ekoh is under investigation for her role in the alleged fraud, which has affected about 50 victims. She is accused of convincing investors to participate in a scheme called "Life Trading" under Leverage Index Limited, offering a 10% return on investment. However, after collecting funds, the company reportedly closed without returning any investments or principal amounts.

At the radio station, EFCC officers introduced themselves and explained their mission to General Manager Bamikole Omoyomi. However, the officers were locked inside the premises, forcing them to call for a rescue team. Ekoh, Omoyomi, and two security guards were arrested. 

The EFCC emphasized that Ekoh was not detained while on air, and the station's activities were not disrupted. The general manager and security guards were released after providing statements. The EFCC also called on the International Press Institute (IPI) and the Nigerian Union of Journalists (NUJ) to review the conduct of the station in line with ethical standards.

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EFCC PRESS STATEMENT

EFCC’s Arrest at Urban Radio Enugu: Facts of the Matter

On Monday, October 14, 2024, a team of operatives of the Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, comprising four officers were at Urban Radio 94.5FM, Enugu to… pic.twitter.com/ps2bspTwqA — EFCC Nigeria (@officialEFCC) October 15, 2024