EFCC says a religious sect laundering cash for terrorists

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The Chairman of the Economic and Financial Crimes Commission (EFCC) in Nigeria Ola Olukayode said they uncovered instances of money laundering involving religious sects. Olukoyede said the anti-graft agency found evidence of a religious sect in Nigeria being involved in laundering money for terrorists. and that another religious organization had been implicated for protecting a money launderer when funds, suspected of being laundered, were traced to its bank account.

In the course of investigating a N13 billion fraud case, the EFCC discovered that N7 billion of the total amount was linked to a religious body’s bank account. Olukoyede emphasized that various religious entities, including organizations, institutions, sects, and bodies, have been implicated in money laundering activities.

During an attempt to investigate a religious organization regarding laundered money, the EFCC faced resistance as the organization swiftly obtained a restraining order to halt the investigation. Despite this setback, the EFCC is determined to pursue the case, and Olukoyede stated that they are appealing the restraining order to recover the stolen funds.

The public engagement event, titled “Youth, Religion, and the Fight Against Corruption,” aimed to address challenges related to youth involvement in cybercrimes and explore the potential role of religion in redirecting them away from such activities. The event also marked the launch of the Interfaith Preaching and Teaching Manual developed by the Interfaith Anti-Corruption Advisory Committee and the unveiling of the EFCC’s Fraud Risk Assessment Prevention and Control Project for Ministries, Departments, and Agencies.

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