The Economic and Financial Crimes Commission (EFCC) recently brought to light its discovery of financial activities linked to a religious sect within the country, allegedly engaged in money laundering for terrorist activities. Mr. Ola Olukoyede, the Chairman of the EFCC, shared these revelations during a Public Engagement on Youth, Religion, and the Fight Against Corruption. The event, which also marked the launch of the Inter-Faith Manual and Fraud Risk Assessment Project for federal government ministries, departments, and agencies, was held at the Yar’Adua Centre in Abuja.
The EFCC, through this initiative, aimed to foster multi-dimensional stakeholder involvement in combating economic and financial crimes. Mr. Olukoyede further disclosed another instance wherein a different religious entity was identified as harboring a money launderer, as funds suspected to be laundered were traced to the organization’s bank account. In the course of investigating a N13 billion fraud case, the EFCC discovered that N7 billion of the total amount was associated with the bank account of this religious body.
Despite ongoing investigations into the money trail, the religious organization reportedly obtained a restraining order to impede further scrutiny. Mr. Olukoyede underscored the agency’s commitment to persist in its efforts, emphasizing that the EFCC is actively appealing the restraining order to resume the investigation and recover the allegedly misappropriated funds.