EFCC Arrests Suspected Fraudster Buying Bank Accounts Details for Fraud

April 7, 2025

Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested one Olawole Sunday, a suspected fraudster who specialised in buying bank accounts’ details from individuals with which he defrauds unsuspecting members of the public.

Sunday’s modus operandi involved encouraging young people to open multiple bank accounts, pay them either N25,000 or N50,000 for each account and collect their bank details including Automated Teller Machine, ATM cards.

Sunday allegedly employed the account details of one Uyi Godstime Eghosa to defraud a petitioner the sum of N2 million under the guise of trading in forex. The account owner, Eghosa was arrested and his disclosure that he was unaware that his account was used in defrauding members of the public, led to Sunday’s arrest.

Eghosa explained that he relinquished his account details, including his ATM card, to Sunday after a N25,000 (Twenty-five Thousand Naira) payment to him.

Sunday, upon his arrest, confessed to the crime and would be charged to court as soon as investigations are completed.