EFCC Exposes Money Laundering Activities by Religious Bodies in Nigeria
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, disclosed that the anti-graft agency has uncovered instances of religious sects in Nigeria being involved in money laundering for terrorist activities.
Speaking at a one-day dialogue on "Youth, Religion, and the Fight against Corruption" at the Musa Yar’Adua Centre, Abuja, Olukoyede highlighted the agency's findings. He stated that not only did they uncover a religious sect actively laundering money for terrorists, but they also discovered another religious body protecting a suspected money launderer. Funds suspected to be laundered were traced to this organization's bank account.
The EFCC Chairman emphasized that various religious organizations, institutions, sects, and bodies have been implicated in money laundering activities. He shared an instance where the EFCC traced laundered money to a religious organization. However, their investigative efforts faced resistance when the organization obtained a restraining order preventing further inquiry.
This revelation raises concerns about the potential misuse of religious institutions for illicit financial activities and underscores the challenges faced by law enforcement agencies in addressing such issues. The EFCC's efforts to combat corruption within the religious sector shed light on the complexity of financial crimes and the need for increased vigilance and cooperation in ensuring transparency and accountability.
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