EFCC ARRESTS 22-YEAR-OLD WITH OVER ₦5 BILLION IN BANK ACCOUNT

The Economic and Financial Crimes Commission (EFCC) has arrested a 22-year-old man who had over ₦5 billion in his bank account. According to the EFCC Chairman, Ola Olukoyede, the suspect is believed to be part of a complex money laundering network involving high-profile individuals.
“We traced over ₦5 billion to the account of a 22-year-old who has never worked a day in his life,” Olukoyede said in a recent interview. Further investigation revealed that the individual served as a front for politicians who used him to clean stolen public funds.

The EFCC chairman described the suspect as a young man with no known job or legitimate source of income, yet with billions passing through his account. “People often see them with dreadlocks or flashy appearances and assume it’s just internet fraud. But what’s happening is far more serious – they’re being used to siphon public money,” he explained.
Olukoyede also raised concerns about a disturbing trend linking some cybercrime activities to ritual practices. He described evidence found during raids, including a black pot containing what forensic analysis confirmed to be human hair. “In one of our offices, we have a black pot with human hair recovered from a suspect’s home. These are not isolated cases, they’re part of a much darker side of cybercrime,” he said.
The EFCC chairman called on the public to understand the depth and scale of financial crimes in the country and support the EFCC’s efforts to tackle them at all levels. “Now imagine the public reaction if that amount had been found with a minister or director. Yet, here we have a young man with billions, acting on behalf of politicians,” he added.
The suspect is currently in EFCC custody as the investigation continues.