The Economic and Financial Crimes Commission (EFCC) has released a statement clarifying the circumstances surrounding the arrest of Favour Ekoh, host of Prime Time on Urban Radio 94.5FM in Enugu, on Monday, October 14, 2024.
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According to the EFCC, Ekoh is under investigation by the Enugu Zonal Directorate for her alleged involvement in a N700 million Ponzi scheme fraud that affected approximately 50 victims. The victims claimed that Ekoh enticed them to invest in a scheme called “Life Trading” through a company named Leverage Index Limited, promising a 10 percent return on investment after a certain period.
However, the victims alleged that after investing their money, the company’s office located at No. 1 Colliery Street, Okpara Avenue, Enugu State, closed down without returning the principal or any returns on investment.
Ekoh, who allegedly invited the victims to participate in the business, remained their only point of contact.
The EFCC operatives, holding a warrant for Ekoh’s arrest, identified themselves to the Managing Director of Urban Radio, Bamikole Owoyomi, and explained their mission. In a surprising turn of events, a staff member called the Chairman of the Radio Station, who ordered the building’s gates to be locked, effectively holding the officers hostage. The EFCC had to call for a rescue team, which subsequently arrested Omoyomi, Ekoh, and the two security guards who locked the premises.
The EFCC clarified that Ekoh was neither arrested while on air nor was there any disruption to the lawful activities of the radio station. No equipment was tampered with, and Ekoh has since been released after providing a statement at the Enugu office. Owoyomi and the two security guards were arrested for obstruction of justice but have also been released after making statements.
The Commission emphasized its high regard for the media as the fourth estate of the realm and a critical stakeholder in the fight against economic and financial crimes. However, it deemed the precipitate and unlawful obstruction of its officers from carrying out their duties by the radio station staff as unacceptable.
The EFCC also questioned Ekoh’s professional credentials as a principal suspect in a N700 million Ponzi scheme affecting 50 innocent Nigerians. It called upon the International Press Institute (IPI) and the Nigerian Union of Journalists (NUJ) to investigate the conduct of the radio station in light of integrity and ethical professional practice.
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