EFCC Arrests Radio Host Over N700million Ponzi Scheme in Enugu

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BY Felicia Udeji

 

The Economic and Financial Crimes Commission (EFCC) has arrested Favour Ekoh, a popular radio host, for allegedly promoting a N700 million Ponzi scheme.

Ekoh, who anchors the “Prime Time” program on Urban Radio 94.5FM in Enugu State, was accused of luring unsuspecting investors into a fraudulent investment scheme called ‘Life Trading under Leverage Index Limited’, promising a 10% return on investment.

About 50 victims claimed that after investing their money in the company, it shut down operations without returning their principal or profits. Ekoh’s role as a trusted radio host allegedly made her a key figure in promoting the scheme, exploiting her influence to deceive victims.

The EFCC’s arrest operation took an unexpected turn when the radio station’s staff obstructed the officers, leading to a rescue team being deployed. The station’s Managing Director Bamikole Owoyomi, and two security guards were arrested for obstruction but later released after making statements.

The EFCC emphasized that Ekoh’s arrest wasn’t made while she was on air, as the nature of the fraudulent dealings required a sting operation.

The commission also reiterated its respect for the media’s role in fighting corruption but condemned the radio station’s staff for obstructing justice.

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