With the Economic and Financial Crimes Commission (EFCC) tightening the noose on political thieves and looters of the commonwealth, they are now avoiding the banks and have resorted to burying cash in their uncompleted or abandoned buildings.
EFCC Chairman, Ibrahim Magu, disclosed this at a workshop titled, the ‘Role of Professionals in the Fight Against Corruption’ in Abuja yesterday.
He revealed, “People are now scared of keeping monies in banks, s it can be traced easily. Monies are now kept in abandoned houses in the country.”
Magu also asked bureau de change operators and financial institutions to desist from being used as conduit pipes to launder money.
In his words,” 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 implored professional bodies in the country to join hands with the anti-graft agency 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.’’
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