Economic And Financial Crimes Commission (EFCC) Unveils N7 Billion Money Laundering Trail Leading To Nigerian Church Amidst Legal Hurdles

Economic And Financial Crimes Commission (EFCC) Unveils N7 Billion Money Laundering Trail Leading To Nigerian Church Amidst Legal Hurdles

In a startling development, the Economic and Financial Crimes Commission (EFCC) has exposed a suspected N7 billion money laundering link to a Nigerian church while investigating a N13 billion fraud case….CONTINUE READING

The revelation was made by EFCC Chairman, Ola Olukoyede, during a one-day dialogue on “Youth, Religion, and the Fight against Corruption” held at the Musa Yar’Adua Centre in Abuja.

Olukoyede revealed that the investigation into the N13 billion fraud case uncovered the laundering of N7 billion, suspected to be proceeds of money laundering, traced to the bank account of a religious organization. However, the EFCC faced a restraining order hindering further investigation when they approached the religious organization.

Despite legal challenges, Olukoyede stressed that religious organizations, institutions, sects, and bodies in the country were allegedly facilitating fraudulent activities and supporting terrorists. He affirmed that no one, including members of the executive, legislative, and judiciary arms of the government, would be exempt from investigation.

Since assuming office as the EFCC chairman three months ago, Olukoyede claimed the anti-graft agency has secured 747 convictions, primarily related to cybercrime.