The Economic and Financial Crimes Commission (EFCC) has announced plans to arraign five herbalists arrested at various shrines in Lagos and Osun states over alleged possession of counterfeit foreign currencies totaling about $3.4 million and €280,000.

In a statement on Wednesday, the agency said the arrests followed a petition claiming the suspects defrauded a victim, identified as Halima Sanni, of N26 million.

The EFCC alleged that the herbalists misled members of the public by presenting themselves as spiritual healers capable of performing cleansing rituals and offering supernatural solutions to personal and financial problems.

The suspects reportedly claimed they could generate foreign currencies through mystical powers, which required spiritual purification and sacrifices before the money could be used. Victims were allegedly hypnotised into providing funds to finance these supposed rituals.

The suspects have been named as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan, and Familola Sunday Olaitan.

They were arrested on December 7 and 8, 2025, at their respective shrines following intelligence-led surveillance and operations in both states.

Investigations revealed that the suspects allegedly defrauded individuals of their money under the guise of spiritual cleansing and treatment for various ailments.

During the operations, EFCC operatives recovered several items, including two exotic vehicles and mobile phones, believed to be connected to the alleged crimes.

The commission said the suspects would be charged to court once investigations are completed.