The EFCC, speaking through its spokesperson Dele Oyewale, told BBC News Pidgin on Monday that the activist was taken into custody following complaints from several petitioners.
"We arrested him to respond to a series of allegations raised against him by some petitioners," Oyewale said.
When asked if the case was connected to Guaranty Trust Bank (GTB), Oyewale noted that the petitions were from different individuals and the agency owed them a duty of protection.
Oyewole added that the commission was planning to arraign the social media activist.
He stated, "We will release him when he meets the bail conditions and we will take the case to court as soon as possible; we are law-abiding."