Fraud: EFCC traces N7b cash to religious group

The Economic and Financial Crimes Commission (EFCC) has traced a N7 billion fraud proceeds to a religious group.

The discovery was made in the course of investigating N30 billion looted from the treasury.

EFCC Chairman Ola Olukoyede broke this news yesterday in Abuja.

According to him, the religious group went to court and obtained an injunction preventing the anti-graft agency from proceeding with the fraud investigation.

The injunction further ordered that the EFCC should not invite, arrest or prosecute its leader, Olukoyede added.

He spoke at a public engagement on “Youth, religion and the fight against corruption” and the launch of the “Inter-faith manual and fraud risk assessment project for ministries, departments and agencies of the Federal Government” at the Yar’Adua Centre.

The EFCC chair, who said the agency had uncovered a religious sect laundering money for terrorists, warned traditional rulers, religious groups, institutions and sects against money laundering.

He noted that 60 per cent of the 747 convictions secured by the anti-graft body within three months of his assumption of duties bordered on cybercrime.

He said: “We will not give up on recovering the stolen funds. It is so sad that as I stand before the eminent audience today, that our experience in fighting corruption has to do with the religious leaders and even traditional rulers.

“As I stand before you, there is a matter we are handling of over N30 billion fleeced from Nigeria, and we were able to trace N7 billion to a particular religious body.

“As we wrote a letter to the leader, the next thing we saw was a restraining order stopping us from inviting them, stopping us from recovering the money.

“Of course, we have appealed. Sometimes ago, we investigated the issue of money laundering somewhere in this country.

“There is a particular religious sect that launders money for terrorists; these are the problems we are battling with.”



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