The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that the commission conducted a six-month investigation into the founder of Streams of Joy International, Jerry Eze, over suspected money laundering before clearing him of any wrongdoing.
Olukoyede made the disclosure on Wednesday at the Jerry Eze Foundation Business Grant Award Ceremony in Abuja, where he explained that the probe was triggered by intelligence reports and petitions concerning unusual inflows into the cleric’s domiciliary accounts.
According to him, investigators became suspicious after observing large sums of foreign currency—ranging from dollars to pounds flowing into the account from multiple international locations.
“We work by intelligence, we work by petitions. At some point, I saw a domiciliary account where dollars and pounds were dropping like raindrops from Colombia, America, Sri Lanka, even Togo. I asked, who is this man?” he queried.
Olukoyede said the commission subsequently launched a full-scale investigation into the financial transactions linked to the cleric.
“We combed the books,” he added.
Following preliminary findings, the EFCC invited Eze for questioning. The anti-graft chief said the cleric explained the nature of the funds and how they were received, as well as his charitable activities.
“He came to my office and explained what he does, how the money comes in, and how he has been helping people,” Olukoyede said.
According to him, after reviewing the findings, the commission concluded that there was no evidence of financial misconduct.
“I told him, I didn’t call you here to explain. We have done our work. I called you here to commend you,” he stated.
The EFCC chairman’s remarks drew applause from attendees at the event, where Eze was present and acknowledged the commendation.
Olukoyede emphasised that the commission’s mandate includes both enforcement and prevention of financial crimes, adding that legitimate financial activity must also be distinguished from suspicious transactions.
He, however, warned that the agency would continue to closely monitor financial systems where necessary in its anti-corruption efforts.
The EFCC boss also expressed concern over the involvement of some religious figures in fraudulent activities, noting that several clerics have been investigated and prosecuted in the past.
He urged religious institutions to maintain integrity and ensure that places of worship do not become channels for illicit financial activities.