Journalist arrested at Urban Radio was involved in N700m ponzi scheme, says EFCC

The Economic and Financial Criminal Commission (EFCC) says the journalist arrested at Urban Radio 94.5FM Enugu was allegedly involved in a N700 million ponzi scheme.

In a statement on Tuesday, the anti-graft agency said Favour Ekoh, a presenter with Urban Radio, was traced to the station over alleged fraud.

The management of Urban Radio had accused EFCC operatives of “barging” into the station during a live programme to arrest its presenters.

The station said the “invasion” occurred at 6:45pm on Monday, during the ‘Prime Time’ programme.

Urban Radio said operatives also seized some communication equipment without disclosing reasons for their actions.

Reacting to news reports, Dele Oyewale, EFCC spokesperson, said Ekoh was not arrested while on air, adding the agency did not disrupt lawful activities at the station.

Oyewale said the EFCC operatives came to the station with an arrest warrant and informed Bamikole Owoyomi, the managing director, of their mission.

“However, in a rather strange twist, a staff of the station called the chairman of the radio station ordered that the gate of the building be locked in and out, thereby holding the officers hostage,” the statement reads.

“Faced with such hostility, they called for a rescue team which eventually arrested Omoyomi, Ekoh and the two security guards who locked them within the premises of the Station.

“Ekoh had to be trailed to the station for arrest because the nature of the fraudulent dealings necessitated a sting operation that would foreclose her escape or go underground.

“She was neither arrested while on air nor any disruption of the lawful activities of the radio station took place.

“No equipment of the Station was tampered with and she has since been released after being allowed to make a Statement at the Enugu office.

“Owoyomi and the two security guards were arrested for obstruction of justice as they initially prevented the operatives from carrying out their official duties. They also made statements to that effect and have since been released.”

THE CASE

The EFCC spokesperson said the agency is investigating Ekoh over alleged N700 million ponzi scheme involving about 50 victims.

Oyewale said the presented allegedly lured the victims into investing in a scheme ‘where they were offered returns on investment of 10 percent of their capital after a period of time”.

“The victims alleged that after investing their money into the company located at No. 1 Colliery Street, Okpara Avenue, Enugu State, the company closed its office with no return on investment or principal returned to the victims,” the EFCC spokesperson said.

“Ekoh allegedly invited the victims into the business and she remained the only link the victims could hold.”