The Economic and Financial Crimes Commission (EFCC) has clarified the raid on Urban 94.5FM, a popular radio station in Enugu State.

Newsmen reported earlier on Tuesday that the anti-graft agency invaded the station on Monday evening during a live broadcast, allegedly seized some equipment worth millions of naira and arrested some staff including a presenter.

However, speaking with SaharaReporters in a telephone chat, Dele Oyewale, the Commission’s Head of Media and Publicity, set the record straight.

According to Oyewale, the EFCC’s Enugu Zonal Command only went to the station to arrest a journalist involved in a Ponzi fraud scheme after refusing to honour an invitation by the commission.
The suspect, according to him, whose name wasn’t disclosed, was taken into custody, made a statement, and was released immediately.
Oyewale emphasised that nothing was removed from the station, contradicting earlier reports of seized equipment.

He said, “All the report that our people (EFCC) moved to the newsroom and carted their equipment, there’s nothing like that.
“What happened is this, the fellow that was arrested is a suspect in Ponzi scheme where over 103 people were defrauded and unfortunately the fellow happened to be a staff of that Radio Station.

“Investigative head; they have written letter to her and all of that but she did not respond and because of the severity of the matter, the number of people involved, just imagine somebody a journalist getting involved in Ponzi scheme.
“So they have to arrest her, brought her to our office to make a statement and they released her immediately. No equipment was taken, nothing was taken. It is normal way of our work. It is unfortunate that she is a journalist but whether a journalist or whoever a suspect is a suspect. I am even worried that media staff would engage in such kind of thing.”

A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors.
Ponzi scheme organisers often promise to invest your money and generate high returns with little or no risk.

But in many Ponzi schemes, the fraudsters do not invest the money.