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.