The Economic and Financial Crimes Commission (EFCC) has denied allegations that its operatives arrested a radio presenter while live on air at Urban Radio 94.5FM, Enugu. The agency also dismissed claims that it disrupted the station’s lawful activities or tampered with its broadcasting equipment.
The EFCC spokesperson, Mr. Dele Oyewale, made this clarification in a statement on Tuesday, October 15, 2024, in Abuja, following reports from the radio station suggesting that its activities were interrupted by EFCC agents.
The controversy stems from the EFCC’s investigation into a major financial fraud involving one of Urban Radio’s staff, Favour Ekoh, who hosts the program “Prime Time.” Ekoh is being investigated for his alleged involvement in a Ponzi scheme that defrauded victims of over N700 million.
According to the EFCC, Ekoh is linked to a fraudulent investment scheme under the name “Life Trading,” run by a company called Leverage Index Limited. The scheme reportedly attracted 50 victims, who were promised returns of 10% on their investments. However, after collecting the funds, the company closed its offices, located on Colliery Street, Okpara Avenue, Enugu, and failed to return either the promised profits or the original investments to the victims.
In the statement, Oyewale explained: “Ekoh remained the only link between the victims and the fraudulent company, making him a crucial figure in our ongoing investigation.”
Contrary to the radio station’s claims, Oyewale clarified that Ekoh was not arrested while on air. The EFCC’s operatives, consisting of four officers, visited Urban Radio on Monday, October 14, to invite Ekoh for questioning based on his alleged role in the Ponzi scheme.
“The operatives approached the radio station with a warrant of arrest for Ekoh, and they identified themselves to the station staff,” Oyewale stated. He further explained that the officers were met with hostility and resistance, as the station staff reportedly held them against their will.
This confrontation led the EFCC team to call for reinforcement. “Faced with such hostility, they called for a rescue team,” Oyewale said. “The rescue team subsequently arrested the Station Manager, Mr. Bamikole Owoyomi, Ekoh, and two security guards who locked the operatives within the station premises.”
The EFCC stressed that no disruption of the radio station’s lawful activities took place, nor was any broadcasting equipment tampered with during the operation. Oyewale confirmed that Ekoh and the others involved were later released after giving statements at the EFCC office in Enugu.
Oyewale emphasized the EFCC’s respect for the media as a critical institution in Nigeria’s democracy. “The EFCC holds the media in high esteem as the fourth estate of the realm. The press plays a crucial role in the fight against economic and financial crimes,” he said.
However, the EFCC expressed disappointment in the actions of the radio station staff, accusing them of obstructing its officers from carrying out their lawful duties. “The unlawful obstruction of our officers by staff of the radio station is unacceptable,” Oyewale said, stressing that such actions could hinder the agency’s work in combating financial crimes.
The agency also called on media regulatory bodies, including the Nigerian Union of Journalists (NUJ) and the International Press Institute (IPI), to investigate the conduct of Urban Radio and its staff. “We urge these bodies to look into the station’s actions in the light of integrity and ethical journalism,” Oyewale added.
The N700 million fraud linked to Favour Ekoh has drawn significant attention, given the large sum involved and the number of victims who have come forward. According to the EFCC, victims of the scheme were lured into investing in the “Life Trading” program run by Leverage Index Limited, with promises of high returns on their capital. Ponzi schemes, which involve paying returns to earlier investors using the capital of newer investors, are illegal and have been a recurring issue in Nigeria’s financial sector.
