The Economic and Financial Crimes Commission (EFCC) has recovered N42.5 million for a 70-year-old widow, Mrs. Margret Taye Odofin, who was defrauded by her account officer in a commercial bank.
The recovered funds were formally handed over to Mrs. Odofin in Kaduna by the Acting Director of the EFCC’s Kaduna Zonal Command, Bawa Kaltungo, on behalf of the Commission’s Chairman, Ola Olukoyede.
According to the EFCC, the victim petitioned the agency in December 2024 after discovering that her banker, identified as Kehinde Olawale Yusuf, had diverted her funds under the guise of a fake investment scheme. Mrs. Odofin revealed that Yusuf, who handled her retirement savings, convinced her in 2020 to invest in a non-existent scheme with the promise of N1.7 million in quarterly returns.
Instead, she later found that over N47 million had been siphoned from her account and funneled into multiple destinations without her consent.
EFCC officials disclosed that the suspect fled to the United Kingdom after the fraud came to light, but ongoing investigations helped track the trail of funds and recover a significant portion.
Overcome with emotion as she received the cheque, Mrs. Odofin praised the EFCC for its efforts.
“I’m still in shock. When we first reported the matter in the UK, they told us it was a Nigerian crime and only the EFCC could help. Today, the EFCC has proven that justice is not dead in this country,” she said.
“I waited years and feared I would never see that money again. But here I am today.”
Representing the Commission’s leadership, Kaltungo reassured the public of the EFCC’s commitment to justice.
“This case is a clear example of what happens when citizens put faith in the system. The EFCC under Mr. Olukoyede’s leadership will continue to pursue financial crimes to the very end and restore what rightfully belongs to victims,” he said.
He noted that the Commission remains focused on rooting out banking-related fraud and will ensure those behind such crimes face the law.
Investigations into the remaining unrecovered funds are still ongoing.
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