In a startling revelation, the Economic and Financial Crimes Commission (EFCC) has exposed a religious group involved in money laundering for terrorists. Mr. Olukoyode, the EFCC chairman, disclosed this information during a one-day dialogue on “Youth, Religion, and the Fight against Corruption” at the Musa Yar’Adua Centre in Abuja on January 31. He highlighted that several religious bodies, organizations, sects, and institutions have been aiding fraudsters and terrorists. Olukoyode revealed that during an investigation into a N13 billion fraud case, the EFCC unearthed N7 billion laundered through the bank account of a church.
Although the identity of the religious organization was not disclosed, a reliable source cited by The Punch confirmed it was a church. The EFCC chairman emphasized their commitment to retrieving the laundered money through legal proceedings. He explained, “We were investigating an N13 billion money laundering case when we discovered that N7 billion of the N13 billion was linked to a religious organization’s bank account.” When the religious organization was approached during the investigation, a restraining order prevented the EFCC from delving further into the matter.
Furthermore, Olukoyode detailed another case where a religious sect in Nigeria was implicated in laundering money for terrorists. The EFCC chairman noted that a religious organization was shielding a money launderer, and when the laundered funds were traced to the organization’s account, a restraining order obstructed the investigation. Despite these challenges, the EFCC remains resolute in its pursuit of justice and combating financial crimes.
The revelation raises concerns about the involvement of religious groups in illicit financial activities and the hindrances faced by law enforcement agencies when investigating such cases. The EFCC’s commitment to pursuing legal avenues to recover the funds highlights the importance of collaboration between authorities and the public in the fight against corruption and terrorism financing. As this story unfolds, it underscores the need for increased vigilance and regulatory measures to curb illicit financial activities within religious institutions, ensuring they uphold their moral and legal responsibilities.
