EFCC Returns N42.5m to 70-Year-Old Widow Defrauded by Banker

EFCC Returns N42.5m to 70-Year-Old Widow Defrauded by Banker

The Economic and Financial Crimes Commission (EFCC) has handed over a recovered sum of ₦42.5 million to Mrs. Margret Taye Odofin, a 70-year-old widow and retiree who fell victim to a fraudulent bank investment scheme in Kaduna.

The restitution took place on Thursday, November 2025, at the Kaduna Zonal Directorate of the EFCC. The Commission’s Acting Director, Bawa Kaltungo, presented the recovered funds on behalf of the Executive Chairman, Mr. Ola Olukoyede.

According to the EFCC, the money was recovered from Mrs. Kehinde Olawale Yusuf, a former account and investment officer of a new-generation bank, who allegedly defrauded Odofin under the guise of a bogus investment deal.

Odofin’s ordeal began in November 2020, when Mrs. Yusuf convinced her to invest in a supposed “high-return” scheme promising a ₦1.7 million quarterly return. Unknown to the widow, the banker had ulterior motives — between November and December 2020, she siphoned a total of ₦47 million from Odofin’s account into various personal and third-party accounts.

After the fraud was discovered, Mrs. Yusuf reportedly fled to the United Kingdom, cutting off all communication. However, the EFCC launched a full investigation, tracing and recovering a substantial portion of the stolen funds.

An emotional Mrs. Odofin expressed deep gratitude to the Commission for restoring her hope and savings.

“I cannot believe this. When I reported the case in the UK after Mrs. Yusuf absconded, they said the offence was committed in Nigeria and advised that I contact the EFCC. Today, I am singing to the glory of God because the EFCC has wiped away my tears.

I want to thank Mr. Ola Olukoyede for the excellent job he is doing. I will campaign for the EFCC anywhere because they have proven they are sincere and effective,” she said.