EFCC recovers N42.5m for 70-year-old widow defrauded by bank officer

Abdullateef Fowewe

The Economic and Financial Crimes Commission (EFCC) has restored N42.5 million to Margret Taye Odofin, a 70-year-old widow and retiree, whose funds were fraudulently stolen by her bank and investment officer, Kehinde Olawale Yusuf.

EFCC in a statement on Friday disclosed that the recovered amount was handed over at the Kaduna Zonal Directorate by the EFCC Acting Director, Bawa Kaltungo, on behalf of Executive Chairman Ola Olukoyede.

Odofin, who petitioned the EFCC in December 2024, revealed that between November and December 2020, Yusuf persuaded her to invest N1.7 million in ponzi schemes promising quarterly returns. Unknown to Odofin, Yusuf had defrauded her of about N47 million, diverting it to multiple accounts before fleeing to the United Kingdom.

Expressing her gratitude, Odofin said, “I cannot believe this because when we reported this case in the United Kingdom where Kehinde Yusuf absconded, they said the offence was committed in Nigeria, hence they advised that we report to the EFCC, which we did and today I am singing to the glory of God because God has used the Commission to wipe away my tears.”

She praised the Commission and its chairman, adding, “I want to thank Ola Olukoyede for the excellent job he is doing. I will campaign for the EFCC anywhere because today they have given me every reason to believe and testify that the Commission is working sincerely.”

EFCC Acting Director Bawa Kaltungo reaffirmed the agency’s dedication under Olukoyede’s leadership.

“I want to sincerely appreciate you for having trust in the Commission to help you recover your hard-earned money. We are happy that we have convinced you of our professionalism and capacity to resolve any fraudulent activity within our mandate,” he asserted.