According to a report by Punch Newspaper, Olufokunbi has admitted fleecing the banker whose name was simply given as Lekan, to the tune of N2.5m.
The 33-year-old fake herbalist said he sold herbs to Lekan before he approached to help increase his fortune and he in turn requested for the money which will be used to prepare a special soap that will increase the banker's fortune in two days.
In his account to the men of the Nigerian Police Force, Olufokunbi said, "I have known Lekan for a long time and he is my customer. He was initially patronising me for herbs for his ailment."
Speaking further, he said, 'But he later approached me for money ritual, saying the money he was making as a banker was not enough for him. I said I could do it if he could give me N2.5m. He brought the money and I gave him a bar of soap.
'I told him to keep the soap in a box for two days, after which he should check the box and he would see a lot of money. He did that, but it failed, he then reported me to the police, who arrested me,' he revealed.
Lekan was reported to have petitioned the Lagos State Police Command's Rapid Response Squad in February 2016 after the money magic was said to have failed and Olufokunbi was trailed and arrested at his base in Ijebu Ode, Ogun State.
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