he Economic and Financial Crimes Commission (EFCC) says it will charge five herbalists to court after they were caught with fake foreign currency worth $3.4 million and €280,000.
According to a statement posted on Wednesday, the suspects were arrested in Lagos and Osun States after allegedly tricking a woman, Halima Sanni, out of ₦26 million.
Investigators explained that the herbalists pretended to offer “spiritual cleansing” and claimed they could magically produce foreign currency. Victims were reportedly hypnotised and persuaded to hand over money for sacrifices that the suspects said were needed to release the cash.
The EFCC named the suspects as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan, and Familola Sunday Olaitan. They were picked up on December 7 and 8, 2025, after weeks of surveillance.
During the raid, officials recovered two luxury cars and several mobile phones. The EFCC confirmed that the suspects will face prosecution once investigations are complete.
This isn’t the first time the agency has uncovered fake currency schemes. Earlier this year, two men were arrested in Kano with $899,800 in counterfeit notes, after being intercepted by the National Drug Law Enforcement Agency while travelling in a commercial bus.
