Ibrahim Magu, Chairman of the Economic and Financial Crimes Commission, EFCC, on Friday revealed that due to the ongoing anti-corruption crusade, looters have resorted to saving their loots in their abandoned properties rather than save them in the banks.
The EFCC boss said this while speaking at a workshop titled, the “Role of Professionals in the Fight Against Corruption” in Abuja, warned Bureau de Change operators and financial institutions against being used as an avenue to launder money.
Magu also solicited for support from professional bodies in the country in the fight against corruption.
According to him, “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.
“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.
“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.”
Magu revealed that the EFCC will soon begin probing accounting firms that join hands with bankers to loot public funds.
Source:: PM Newspaper