In a bid to rid the nation of the infamous activities of Wonder Banks, popularly known as Ponzi Scheme, the Ibadan Zonal Office of the Economic and Financial Crimes Commission has arrested 27 suspected operators of illegal financial institutions in Ibadan.
This was contained in a statement by Ayo Oyewole, the Head of Public Affairs, Ibadan Zonal Office of the EFCC, on Thursday.
Oyewole said the suspects had volunteered useful information to the operatives of the commission in their quest to unravel the extent of their illegal activities.
He said investigations revealed that the operators were arrested for operating illegal financial institutions.
Oyewole said the operators allegedly gave loans to innocent and unsuspecting members of the public who register with them after 10 per cent deposit of the total loans sum and charge 15 per cent to 20 per cent interest on all the loans granted.
He said that the commission also gathered that these companies had branches with thousands of customers spread across Oyo, Lagos, Ogun, Ondo, Kwara States.
Oyewole said several copies of hand flyers for advertisement of their activities and laptops were recovered from them at the point of arrest.
He stated that the suspects would be charged to court as soon as investigation was concluded and a prima facie case was established against them.
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