EFCC recovers over N277.9m, arrests over 100 students for frauds

The Economic and Financial Crimes Commission (EFCC), Ibadan Zonal Office, has recovered a total of N277,931,341.31 in the past one year, which represents an increase of more than N220million over the N57million recovered in the previous year.

The agency’s Deputy Zonal Head, Ibadan, Kazeem Oseni, disclosed this in Ibadan on Monday when he addressed a press conference on behalf of the Acting Chairman, Ibrahim Magu.

He stated that 195 people were arrested within the period, which investigation by Daily Sun revealed that over 100 among them were undergraduates arrested for financial frauds such as advanced free fraud, Yahooplus, ATM fraud, cloaning of bank account, and so on.

The so-called ‘yahoo-yahoo’ was said to be the most prevalent financial crime in Ibadan and more than half of the seized vehicles were recovered from the ‘yahoo-yahoo boys.’

According to Oseni, who was assisted by the agency’s zonal head of human resources and administration, Mrs. Oyekemi Kayode-Afe, and the Head of Public Affairs, Mr. Ayo Oyewole, the 195 arrested persons were picked from the 431 reported cases, adding that 50 persons have been charged to court and their trials were at different stages.

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He explained that arrests have not been made over the remaining 236 reported cases in order to give room for diligent investigation. He also added that the remaining 145 persons among 195 total arrested that have not been charged to court were also under diligent investigation.

One of the cases in court, he revealed, involved a former Minister of Works and Pro-Chancellor of the Federal University of Agriculture, Abeokuta, Ogun State, Senator Adeseye Ogunlewe; Vice-Chancellor, Prof. Olusola Oyewole; and the university’s bursar, Moses Ilesanmi, over an alleged mismanagement of N250million.

Oseni also mentioned the case of an alleged N1.4billion financial crimes and abuse of office at Obafemi Awolowo University, which involved former vice chancellor, Prof Anthony Elujoba, and the bursar, Josephine Akeredolu. The case is still pending in court.

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He also raised the alarm that the Facebook account of Magu on the social media has been hacked, and the masterminds have been using the platform to solicit for funds, warning that members of the public should not fall victims of the fraud because no EFCC official would solicit fir assistance on the social media

Oseni said: “The fight against economic and financial crimes is not a task that the commission can surmount singlehandedly. The chairman often state unequivocally that no one has the monopoly of knowledge of how the fight should be fought and won. All stakeholders, particularly the media must collaborate and cooperate with us to make the fight a success.”

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