The Economic and Financial Crimes Commission (EFCC) has apprehended radio personality Favour Ekoh in connection with an alleged N700 million Ponzi scheme. Ekoh, the host of “Prime Time” on Urban Radio 94.5FM Enugu, is accused of misleading investors into a fraudulent scheme that promised high returns.
The arrest, confirmed by EFCC spokesperson Dele Oyewale, took place on Monday, October 14, 2024, after EFCC operatives from the Enugu Zonal Directorate visited the radio station. Ekoh is linked to the promotion of “Life Trading,” an investment scheme under Leverage Index Limited, where investors were promised a 10% return. Unfortunately, the company shut down operations, leaving around 50 victims without their invested funds.
The EFCC revealed that Ekoh’s influence as a trusted radio host made it easier for her to attract investors to the scheme. Victims reported that after investing at the company’s office in Enugu, it abruptly closed, failing to return either the principal or profits.
Related NewsEnugu State Takes Possession of 14 Forfeited Properties from EFCC
N4 Billion Fraud Case: EFCC Presents Key Witnesses Against Former Anambra Governor Obiano
During the arrest, EFCC operatives faced resistance from the radio station staff, with the station’s Chairman ordering the gates to be locked, temporarily detaining the EFCC officers. This obstruction prompted a rescue team to intervene, resulting in the arrests of the station’s Managing Director, Bamikole Owoyomi, Ekoh, and two security guards. The EFCC emphasized that no radio equipment was tampered with during the operation.
The EFCC clarified that Ekoh was not arrested while on air, adding that the nature of the case required a strategic operation for her apprehension. Ekoh, along with the others, was later released after giving their statements to the EFCC.
The commission condemned the radio station’s interference with law enforcement, highlighting the need for accountability within the media industry. It urged the Nigerian Union of Journalists (NUJ) and the International Press Institute (IPI) to investigate Ekoh’s involvement, as it raises concerns about media ethics and public trust.
Urban Radio 94.5FM, however, condemned the EFCC’s actions, describing the raid as an “unethical disruption” of its programs. The station apologized to its listeners for the unexpected interruption and expressed hope for a swift resolution.
