EFCC returns N42.5m to 70-year-old widow defrauded by former banker

The Economic and Financial Crimes Commission (EFCC) has recovered and returned ₦42.5 million to Mrs. Margret Taye Odofin, a 70-year-old widow and retiree who was reportedly defrauded by her former banker and investment officer.

According to a statement issued on Friday, the restitution took place on Thursday, November 2025, at the EFCC’s Kaduna Zonal Directorate. The bank draft was presented to Mrs. Odofin by Acting Director Bawa Kaltungo, who represented EFCC Chairman Ola Olukoyede during the handover ceremony.

“The widower,  in a petition to the Kaduna Zonal Directorate of the EFCC in December 2024,  had alleged that Mrs. Yusuf, being her account and investment officer , had between November 2020 and December, 2020, lured her into investing in some ponzi businesses with a promise of a quarterly return on the investment of N1,700,000 (One Million, Seven Hundred Thousand Naira), but unknown to her, the banker’s motive was solely to defraud her as she later realised that the sum of N47 million had been creamed off her account and wired to various bank accounts without her permission.

“Mrs Yusuf cut off communications with her and fled to the United Kingdom after she made enquiries from her on the transactions. However, her flight out of the country could not deter the EFCC from tracing and recovering the stolen monetary assets,” the statement said.

An emotional Mrs. Odofin, who received the recovered funds, expressed profound gratitude to the Commission and its chairman.

“I cannot believe this because when we reported this case in the United Kingdom where Mrs. Kehinde Yusuf absconded, after defrauding me, they said the offence was committed in Nigeria, hence they advised that we report it 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. I have waited for years to get my hard-earned money back.

“I want to thank Mr. 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. I pray for you all that you continue to succeed,” she said.

While presenting the cheque, Kaltungo reaffirmed the agency’s commitment to ensuring justice for victims of financial crimes.

“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 said.