Wealthy King, Obateru of Obat oil, quizzed by EFCC for alleged Money Laundering

Agents of the Economic and Financial Crimes Commission has interrogated Fredrick Obateru Akinruntan, one of the popular flamboyant Nigerian monarch from Ondo State. An EFCC source told SR that Oba Obateru, who holds the traditional title of Olugbo of Ugbo, was grilled in connection with his suspected involvement in money laundering.

Oba Obateru, 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 in the past.

The source said the investigations were too early to determine the amount of money involved in the alleged crime. EFCC agents first interrogated Oba Obateru last Friday.

He added that the monarch was asked to return to the agency on Monday where he faced f is urther questioning from investigators looking into his possible role in "significant" 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 Obateru] to court.”

This man is very rich and influential, so expect some big SANs to fill out to defend him.