EFCC Clarifies Urban Radio Enugu Arrest, Ekoh Implicated in N700m Ponzi Scheme

The Economic and Financial Crimes Commission (EFCC) has shed light on the circumstances surrounding the arrest of Favour Ekoh, a host at Urban Radio 94.5FM, Enugu. On October 14, 2024, EFCC operatives visited the radio station to invite Ekoh for questioning regarding her alleged involvement in a N700 million Ponzi scheme.

Allegations Against Favour Ekoh

Ekoh is accused of luring approximately 50 victims into investing in “Life Trading” through Leverage Index Limited, promising a 10% return on investment. However, the company allegedly closed its office, leaving investors without returns or their principal investments. Ekoh was the primary point of contact for the victims.

Arrest and Obstruction

Upon arriving at the radio station, EFCC operatives identified themselves and informed the Managing Director, Bamikole Owoyomi, of their mission. However, a staff member alerted the Chairman, who ordered the building’s gates locked, holding the officers hostage. A rescue team was called, leading to the arrest of Owoyomi, Ekoh, and two security guards for obstruction of justice .

Investigation and Release

Ekoh was released after making a statement at the EFCC’s Enugu office. The commission emphasized that she was not arrested on-air, and no equipment was tampered with. The EFCC has called on the International Press Institute and the Nigerian Union of Journalists to investigate the radio station’s conduct and Ekoh’s professional credentials.