Twenty-seven suspected Wonder Bank operators, popularly known as the Ponzi scheme, have been arrested by the Ibadan Zonal Office of the Economic and Financial Crimes Commission, EFCC in Oyo state for operating illegal financial institutions.
The suspects, who were raided and arrested from different locations within Ibadan, the state capital, include: Olayeni Oladokun Samuel, Managing Director of Unlimited Grace Investment Limited and ten members of his staff, Chris N. Igbinake of Grooming Centre and four of his staff and Akanbi Oluwakemi of Grace & Mercy Households Improvement Initiative and four of her staff.
Others include staffers of Sobic Financial & Investment Consultant. They are Awokunle Olukemi, Sikiru Obadara, Olasunkanmi Michael, Adeoti Adegboyega, Oyewusi Esther and Ojekunle Victor Olukayode. The suspects have volunteered useful information to the operatives of the Commission in their quest to unravel the extent of their illegal activities.
Investigations however have revealed that none of the arrested illegal financial institutions allegedly registered with the Central Bank of Nigeria, CBN, before embarking on financial transactions with the members of the public.
They allegedly give loans to innocent and unsuspecting members of the public who register with them after 10% deposit of the total loans sum and charge 15% to 20% interest on all the loans granted to them.
It was also gathered that these companies have branches in and outside Oyo State with thousands of customers spread across Oyo, Lagos, Ogun, Ondo, Kwara states and many more.
At the point of arrest, several copies of hand flyers for advertisement of their activities and laptops were recovered from them. They would be charged to court as soon as investigation is concluded and a Prima facie case is established against them.
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