EFCC CHAIRMAN REVEALS N7 BILLION MONEY LAUNDERING LINK TO RELIGIOUS ORGANIZATION

EFCC Chairman Ola Olukoyede disclosed tracing N7 billion in potential money laundering proceeds to a religious organization during a dialogue in Abuja. The revelation underscores the challenges of certain religious entities aiding fraud and terrorism.

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, disclosed during a one-day dialogue in Abuja that the agency had traced N7 billion, suspected to be money laundering proceeds, to a religious organization. Additionally, another religious group was identified as laundering money for terrorists. Olukoyede stated that various religious entities in the country were aiding and abetting fraudsters and terrorists.

 

The EFCC chairman revealed that the laundered N7 billion was discovered in the bank account of a religious organization during the investigation of a N13 billion fraud case. Although he didn't disclose the organization's identity, a source mentioned it was a church. Olukoyede affirmed the agency's commitment to recovering the money through legal means, despite facing a restraining court order during the investigation.

 

While addressing the audience, Olukoyede mentioned the EFCC's determination to probe individuals suspected of financial crimes, including members of the executive, legislative, and judiciary arms of government. He also highlighted the agency's achievements, securing 747 convictions, primarily related to cybercrime, in his three months as EFCC chairman.

 

The one-day event, themed "Youth, Religion, and the Fight Against Corruption," aimed to address the challenges of youth involvement in cybercrimes and explore how religion could be utilized for their reorientation. Vice President Kashim Shettima, representing President Bola Tinubu, emphasized the importance of curbing corruption within the government and among young people. Dignitaries present at the dialogue included the Attorney General of the Federation, Lateef Fagbemi (SAN), former Minister of Power Babatunde Fashola, the Ooni of Ife, Oba Enitan Ogunwusi, the Sultan of Sokoto, Sa’ad Abubakar, Archbishop Daniel Okoh (President, Christian Association of Nigeria), Prof. Lilian Salami (Chairperson, Nigeria Committee of Vice Chancellors), and Prof. Ishaq Oloyede (Registrar of JAMB).


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