EFCC Arrests Suspected Wonder Bank Operators
The Ibadan Zonal Office of the Economic and Financial Crimes Commission, EFCC, has arrested 27 suspected operators of illegal financial institutions popularly referred to as wonder bank.
The suspects were raided and arrested from various locations within Ibadan, Oyo State.
Investigations 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 respectively and many more.
At the point of arrest, several copies of hand flyers for advertisement of their activities and laptops were recovered from them.
The EFCC says 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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