Looters change tactics, now hide money in abandoned houses,
Connect with us


Looters change tactics, now hide money in abandoned houses, EFCC reveals



No more goofs, EFCC seizes correct houses of Fayose

The EFCC, Friday said those who looted the nation’s treasury have changed their mode of operation, choosing to hide looted funds in abandoned buildings instead of banks so as not to be detected.

This was disclosed by the Acting Chairman of the EFCC, Mr. Ibrahim Magu, at a workshop titled, the ‘Role of Professionals in the Fight Against Corruption’ in Abuja.

Magu said: “People are now scared of keeping monies in banks, as it can be traced easily. Monies are now kept in abandoned houses in the country.”

The EFCC boss also appealed to operators of bureau de change and other financial institutions to stop acting as conduit pipes to launder money, warning that his agency would soon start to prosecute BDC operators to serve as deterrence.

Read also: EFCC to probe infractions in NEITI Report

“BDCs move billions of naira in a day and there is no proper documentation of money laundered. I appeal to the BDCs to stop that, as we will begin to prosecute bureau de change operators to serve as deterrent. Bankers are also involved in corrupt acts, as they don’t carry out due diligence.’’

Magu also charged professional bodies in the country to assist the EFCC in the fight against corruption and economic crimes.

He said: “Instead of conniving with people to launder the proceeds of corruption, I beg you to join hands with the EFCC to fight corruption.

“Many professionals celebrate criminality by doing a lot to foster corruption, which adds more to money laundering. I don’t intend to criticise the work of professionals, but to solicit their support in order to make Nigeria better for the younger generation.’’

RipplesNigeria …without borders, without fears

Join the conversation


Join the conversation



Latest Tech News

Copyright © 2021 Ripples Nigeria. All rights reserved.