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EFCC Launches Investigation into Church Accused of Receiving N7bn Fraud Proceeds

February 1, 2024

Photo Credit:@EFCC/X

 

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that the Economic and Financial Crimes Commission (EFCC) has initiated a thorough investigation into a church accused of receiving and laundering a staggering N7 billion in fraud proceeds.

The alleged fraudulent activities came to light as part of the EFCC’s ongoing efforts to combat financial crimes and ensure transparency in various sectors. Authorities suspect that the church may have played a role in facilitating the illicit movement of funds, prompting a comprehensive inquiry into its financial records.

He said another religious group was found to be laundering money for terrorists.

The EFCC chairman made the revelation on Wednesday at the Musa Yar’Adua Centre, Abuja, during a one-day dialogue on “Youth, Religion, and the Fight against Corruption.”

He said some of the religious organisations, institutions, sects, and bodies in the country had been found to be aiding and abetting fraudsters and terrorists.

Olukoyede stated that the EFCC discovered the laundered N7bn in the bank account of a religious organisation in the course of  investigating a N13bn fraud.

While refraining from disclosing the religious organization’s identity, an inside source from the anti-graft agency informed our correspondent that a church is under investigation.

The EFCC chairman asserted the agency’s commitment to reclaiming the misappropriated funds through legal proceedings.

Olukoyede said, “We were investigating a N13bn money laundering case when we discovered that N7bn of the N13bn was linked to a religious organisation’s bank account.

“When we approached the religious organisation about it and we were carrying out our investigation, we got a restraining order stopping us from carrying out our investigation.”

Olukoyede, however, said the EFCC would not give up on the investigation as the restraining court order had been appealed.

Meanwhile, the EFCC chairman said the anti-graft agency also uncovered another unnamed religious body laundering money for a terrorist organisation.

“No one will be spared, we’ll probe everyone who is suspected to be committing financial crimes, and these includes members of the executive, legislative, and judiciary arms of government,” Olukoyede added.

He said since his assumption of office as the EFCC chairman about three months ago, the anti-graft agency had secured 747 convictions, mostly cybercrime.

He said the one–day event, tagged “Youth, Religion and the Fight Against Corruption,” was aimed at addressing the challenges of youth involvement in cybercrimes and how religion could be used as a weapon for their reorientation.

Vice President Kashim Shettima, who represented President Bola Tinubu at the event, spoke extensively about the need to curb corruption in government and among the young people.

Other dignitaries present at the dialogue were the Attorney General of the Federation, Lateef Fagbemi (SAN), a former Minister of Power, Babatunde Fashola, the Ooni of Ife, Oba Enitan Ogunwusi, the Sultan of Sokoto, Sa’ad Abubakar, the President, Christian Association of Nigeria,Archbishop Daniel Okoh, the Chairperson, Nigeria Committee of Vice Chancellors, Prof.  Lilian Salami, and the Registrar of JAMB, Prof. Ishaq Oloyede.

 

 

 

Credit: Punch

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