They were arrested on suspicion of collecting money under false pretenses and keeping revenues from illegal activity.
In a statement on Wednesday, EFCC spokesman, Wilson Uwujaren said Malik acted as a “middleman”.
“He connects internet fraudsters around the globe with pickers, and receives some percentage on every successful transaction”, it read.
The father arrived before the EFCC during the preliminary investigation to claim the N46 million Range Rover SUV recovered from Malik.
The senior Bakare was arrested, according to Uwujaren, after he failed to provide a satisfactory explanation for how he obtained it.
The vehicle, an iPhone 12 Pro Max, an iPhone 8, and “other incriminating materials” were were confiscated from the suspects.
After the full investigation is completed, the father and son will be charged in court.
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