EFCC Exposes Religious Sect Laundering Funds for Terrorists; Unearths Money Launderer Shielded by Another Religious Body

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, disclosed on Wednesday that a religious sect in Nigeria has been implicated in money laundering activities for terrorists.

During a public engagement focused on youth, religion, and the ongoing fight against corruption, Olukoyede unveiled that another religious organization was identified as shielding a money launderer, as funds suspected to be laundered were traced to the entity’s bank account.

The EFCC, in the course of investigating a N13 billion fraud case, discovered a substantial link of N7 billion to a religious body’s bank account. Olukoyede highlighted that various religious entities, including organizations, institutions, sects, and bodies, have been implicated in money laundering activities.

Despite facing legal resistance in the form of a restraining order obtained by the religious organization to halt the EFCC’s investigation into its leaders, Olukoyede affirmed the commission’s determination to pursue justice. He stated that the EFCC is actively appealing the restraining order to recover the allegedly stolen funds.

The public engagement, centered around the theme “Youth, Religion, and the Fight Against Corruption,” served as a platform to address challenges related to youth involvement in cybercrimes. The event also introduced the Interfaith Preaching and Teaching Manual, developed by the Interfaith Anti-Corruption Advisory Committee of the Commission. This resource aims to foster a strong aversion to corruption among followers of Islam and Christianity.

Furthermore, the EFCC’s Fraud Risk Assessment Prevention and Control Project for Ministries, Departments, and Agencies was officially launched during the event, underscoring the commitment to tackling corruption at various levels within the government.