A statement on Monday by spokesman Wilson Uwujaren said Igwilo, 52, is the alleged leader of a criminal network of “catchers”.
He was caught alongside Okafor Nnamdi Chris, Nwodu Uchenna Emmanuel and John Anazo Achukwu at a studio in the Sangotedo area of Lagos.
The suspects allegedly perpetrated a scheme involving false promises of investment funding, impersonating United States bank officials in person and via the internet.
“Investigation revealed that those who fell victims of the suspects’ criminal activities were asked to make certain payments before they could receive their funding”, EFCC noted.
Proceeds were allegedly laundered through American bank accounts and diverted to the alleged culprits in Nigeria.
Igwilo was placed on the FBI watch list following a criminal complaint filed against him in the U.S. District Court, Houston, Texas, in December 2016.
“Following their arrest, five houses located in choice areas of Lagos were recovered from Igwilo. The suspects will soon be charged to court.” Uwujaren added.