Esther Salifu
Favour Ekoh, a popular radio host of the “Prime Time” program on Urban Radio 94.5FM in Enugu State, was arrested by the Economic and Financial Crimes Commission (EFCC) on Tuesday in connection with an alleged N700 million Ponzi scheme .
The EFCC operatives arrested Ekoh, along with the radio station’s Managing Director, Bamikole Owoyomi, and two security guards, after they were held hostage by the station’s staff .
According to Dele Oyewale, EFCC’s Head of Media and Publicity, Ekoh allegedly lured unsuspecting investors into a fraudulent investment scheme called “Life Trading under Leverage Index Limited,” promising a 10% return on investment .
“The victims claimed that after investing their money in the company located at No. 1 Colliery Street, Okpara Avenue, Enugu, the company shut down operations without returning their principal or profits,” Oyewale stated.
Ekoh’s role as a trusted media figure was exploited to promote the fraudulent scheme, leaving about 50 victims stranded .
Oyewale noted that Ekoh was not arrested while on air, stressing that “the nature of the fraudulent dealings required a sting operation to ensure her apprehension”
After being released, the EFCC reiterated its respect for the media as a critical stakeholder in the fight against corruption but condemned the radio station’s staff for obstructing justice .
“The precipitate and unlawful obstruction of EFCC officers from carrying out their duties was unacceptable,” Oyewale added
