The Economic and Financial Crimes Commission (EFCC) has returned N114 million recovered from a cyber fraud investigation to a microfinance bank following the arrest of a suspect linked to the crime.

The recovered funds were handed over on Thursday by the Acting Zonal Director of the commission’s Benin Zonal Directorate, Deputy Commander Sa’ad Hanafi Sa’ad, to a senior bank official, Samuel Ikechukwu.

The EFCC disclosed this in a statement shared on its official X account on Friday, explaining that the recovery followed a petition submitted by Ikechukwu in August 2024.

According to the commission, the petition concerned the unauthorised withdrawal of funds from one of the bank’s customers’ accounts after it was allegedly compromised by cybercriminals.

Investigations reportedly led to the identification of several suspects, including Obumneme Bright, who was subsequently arrested.

The commission said it recovered N114 million from Bright, adding that the money was being returned to the financial institution.

It further disclosed that investigations were still underway to identify and apprehend other individuals allegedly involved in the fraud.