Thursday, February 18, 2016

[PHOTO]: Nigerian Traditional Ruler and chairman of Obat Oil Limited, Fredrick Obateru Akinruntan, Arrested For Money Laundering

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 source, Mr. Akinruntan, who holds the traditional title of Olugbo Of Ugbo, was grilled in connection with his suspected involvement in money laundering. The source said the investigations were....
too early to determine the amount of money involved in the alleged crime.
Mr. Akinruntan, who is the traditional ruler of Ugboland, is also known as “Obat.” He is the chairman of Obat Oil Limited, a company that had been cited numerous times in fuel subsidy scams the past.

The EFCC agents first interrogated Oba Akinruntan last Friday. He added that the monarch was 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 crime

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