N7bn fraud: Religious organisations pipeline for funding terrorists — EFCC alleges

By Denis Matthew, Abuja

The Economic and Financial Crimes Commission (EFCC) has accused religious organisations of bring a pipeline for funding terrorists activities.

The Chairman of the anti-graft agency, Ola Olukoyede disclosed this on Wednesday, January 31, 2024, the Musa Yar’Adua Centre, Abuja, during a one-day dialogue on “Youth, Religion, and the Fight against Corruption.”

He said the EFCC was investigating a N13 billion fraud case when it discovered N7 billion linked to a religious body.

He added that the organisation quickly obtained a restraining order to prevent the EFCC from inviting its leaders.

Olukoyede further said the commission will not give up on the investigation as it is appealing the restraining order in order to recover the stolen funds.

He also said another unnamed religious body was also linked to be laundering money for a terrorist body, which has been killing and destroying Nigerians and Nigeria for a long time now.

The EFCC chairman also revealed that since his assumption of office as the EFCC chairman about three months ago, the commission has secured 747 convictions.

Lamenting the high number of convictions, the EFCC chairman said most of them were from Internet related offences.

The event had the theme: “Youth, Religion and the Fight Against Corruption” and it featured launch of the Interfaith Preaching and Teaching Manual developed by the Interfaith Anti-corruption Advisory Committee (IAAC) of the Commission as a resource to promote abhorrence for corruption among adherents of the two religions: Islam and Christianity.

The Commission’s Fraud Risk Assessment Prevention and Control Project for Ministries, Departments and Agencies, MDAs, was also launched at the event.

Meanwhile President Tinubu who was represented at the event by his deputy, Vice President Kashim Shettima, noted that Nigerians are meticulous, authentic citizens who have been making significant contributions to innumerable fields of endeavours around the world.

“Over the decades, Nigerians have been victims of mislabelling. Such gross misrepresentation fails to reflect the true essence of our diverse and resilient nation. The association of internet crimes with the entire Nigerian populace lacks statistical evidence and does not align with the sociology of everyday Nigerians. 

“Our nation comprises hardworking, honest citizens who contribute significantly to various fields globally, from Artificial Intelligence to medicine.

“While we reject blanket stereotyping that undermines the majority upholding principles of integrity and diligence, we must face the fact that we function in an interconnected world where cybercrimes have evolved into a global phenomenon. This poses a threat not only to our nation but to the entire world,” Tinubu stated.

Delivering his speech titled, “Youth, Religion, and Our Battle Against Corruption: A Call to Action,” the President applauded the EFCC “for remaining a moral compass, persistently rousing the nation’s conscience,” just as he said through its operations, the commission has remained vocal in “telling the world that Nigeria is neither complicit nor complacent in confronting the menace of corruption.” 

Underscoring the urgency of combating internet crimes and neutralising the threat caused by other forms of corruption head on, President Tinubu assured the anti-graft agency of “the government’s support in its quest to combat these digital offenses.

“We must recognise that the Commission’s lawful efforts to bring fraudsters to book are imperative for the overall well-being of our society. The government is aware that our ambitious goal of eradicating internet offenses and corruption demands an atmosphere steeped in trust and integrity. We must foster open communication channels and ensure that law enforcement actions align with justice and accountability,” he added.

The President also stressed the need to remind Nigerian youths that there are abundant opportunities for lawful enterprises, both within and outside the shores of the country.

This, he said, is the reason why the federal government has taken steps to establish a Students Loan Board to address the financial needs of students.

He continued: “This initiative aims not only to alleviate financial burdens but also to disincentivise criminality by offering a tangible alternative. Our message to the youth is clear: the horizon is wide, and opportunities abound across various sectors.

“Seize these prospects, embark on lawful enterprises, and let your talents shine. The government encourages you to leverage these opportunities, exhibit your capabilities across all sectors, and contribute to the prosperity of our great nation.”

President Tinubu lauded efforts by the EFCC to tackle corruption through the Inter-Faith and Fraud Risk Assessment Projects, saying the “initiative recognises the potential of religion as a tool for ethical reformation and underscores the importance of engaging diverse faith communities in our fight against corruption.

“Simultaneously, this initiative addresses vulnerabilities within government agencies and acknowledges the critical need to fortify these institutions against corrupt practices.

“Our nation is deeply rooted in religious values, and it is crucial to acknowledge that both Christianity and Islam vehemently condemn corruption. With these profound teachings in mind, I urge our revered religious leaders to demonstrate a pillar of guidance,” he added.