EFCC Arrests Nigerian Traditional Ruler, Fredrick Obateru Akinruntan-OBAT For Money Laundering

Oba Fredrick Obateru Akinruntan

Agents of the Economic and Financial Crimes Commission (EFCC) late last week interrogated Fredrick Obateru Akinruntan, a flamboyant Nigerian monarch from Ondo State, according to Sahara Reporters.

A reliable EFCC source said that Mr. Akinruntan, who holds the traditional title of Olugbo Of Ugbo, was grilled in connection with his suspected involvement in money laundering. The source however added that the investigations were too early to determine the amount of money involved in the alleged crime.

Mr. Akinruntan, who is also known as “Obat” is the chairman of Obat Oil Limited, a company that had been cited numerous times in fuel subsidy scams the past.

EFCC agents first interrogated Oba Akinruntan last Friday. The monarch was however asked to return to the agency on Monday where he faced further questioning from investigators looking into his possible role in significant money laundering and other financial crimes.

Asked if the traditional ruler was likely to face prosecution, the source stated that EFCC agents “have made a lot of progress in putting together a case that warrants charging him [Oba Akinruntan] to court.” But the source added that it was too early to disclose when the traditional ruler might face prosecution.


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