August 7, 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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