Acting Chairman of the EFCC, Mr. Ibrahim Magu has made a shocking revelation of the new tactics by looters and where they now hide their loots.
Acting Chairman of the EFCC, Mr. Ibrahim Magu
The Economic and Financial Crimes Commission (EFCC) on Friday, made a shocking revelation that looters now have abandoned hiding their money in banks. The commission revealed that looters now have resorted to hide their stolen loots in their abandoned properties and uncompleted buildings.
This was revealed by the acting Chairman of the EFCC, 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.”
He urged the bureau de change operators and financial institutions to desist from being used by looters and begged them to use every means possible to expose those ruining the country.
According to him, “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.’’
He added, “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.’’
Speaking further, the EFCC boss further revealed that the commission would soon be going after accounting firms that collaborate with bankers to steal government funds as it says it will leave no stone unturned.