Stock Fraud Suspect Dies In EFCC Custody

A suspect under investigation by the Economic and Financial Crimes Commission, EFCC, is dead. Arowofela Olufemi, who was in the custody of the EFCC, at about 5.30 am today, November 28, 2015 complained of chest pain and was rushed to the nearby Military Hospital but gave up the ghost before doctors could attend to him.

The cause of the sudden death is yet to be ascertained even as the corpse of the deceased has been deposited at the mortuary of the Lagos University Teaching Hospital. The family of the deceased has already been notified of the incident while the matter had been reported at the Onikan Division of the Nigeria Police.


Olufemi was arrested following a complaint by the Securities and Exchange Commission, SEC, alleging that he was involved in the fraudulent conversion of dividend warrants to the tune of over N100million. In deed, he was picked up at the bank while attempting to cash stolen dividend warrants.

After his arrest and detention, he was offered administrative bail but could not produce a surety to perfect his bail.