December 4, 2022

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Nigerian Traditional Ruler, Fredrick Obateru Akinruntan, Arrested For Money Laundering …it’s a lie – Olugbo-In-Council

3 min read

imageAgents of the Economic and Financial Crimes Commission (EFCC) late last week interrogated Fredrick Obateru Akinruntan, a flamboyant Nigerian monarch from Ondo State. An 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.

Agents of the Economic and Financial Crimes Commission (EFCC) late last week interrogated Fredrick Obateru Akinruntan, a flamboyant Nigerian monarch from Ondo State. An EFCC source told SaharaReporters 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 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.

Our source disclosed that 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 crimes.

Asked if the traditional ruler was likely to face prosecution, our 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.

Meanwhile, the Olugbo-in-Council which is the Highest Traditional Body of Ugboland in Ilaje Local Government Area of Ondo State have debunked rumours of the arrest of the Olugbo of Ugboland, His Imperial Majesty, Oba (Dr.) Frederick E. Obateru Akinruntan, CON.

Speaking through the Secretary of the Kingdom, Chief I. A. Demehim, the Olugbo-in-Council, asserts that the reported arrest of the Highly Revered Monarch, who is the Paramount Ruler and Prescribed Authority of Ugboland as well as Founder of the Multi-Billion Dollar Obat Group is completely false.

According to High Chief Isaiah Demehin, “the news report by Sahara Reporters which is also being peddled by several bloggers that Kabiyesi was arrested by EFCC for Money Laundering is not only laughable and false but also a sacrilege to the traditional stool of our land. The Olugbo is domiciled in Ugbo, and Kabiyesi was dutifully attending to traditional matters as well as the needs of his subjects on Friday”

Furthermore, Chief Isaiah Demehin stated that it is pitiful that such a blog as widespread as Sahara Reporters would tell a lie against a Monarch while throwing away all ethics which places the onus on them to confirm from the Palace of the Olugbo which is always filled with throngs of people and activities which the Olugbo presides upon by himself or cross check their write up with the EFCC as a mark of professionalism.

In conclusion, he stated, “I wish to advise our journalists to always cross-check their facts and stop embarrassing innocent persons. It is especially sad that any journalist would embark on a path to destroy the great image of Nigeria’s Doyen of Industry who has contributed immensely to the socio economic and human capital development of Nigeria.

Our Monarch is a great father and would not join issues with any media house, however, I think it is dutiful of any journalist that is sound to learn how to accord honour to revered traditional stools, and avoid being used by disgruntled persons to tarnish the images of global icons as the Billionaire Monarch whose business conglomerates have transformed Ugboland and Nigeria as a whole

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2 min read

UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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2 min read

UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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