EFCC boss, Magu reveals those who launder money for politicians, terrorists

The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has claimed that some “fraudsters in banks are laundering public funds for corrupt politicians and terrorists”.

Magu stated this during a meeting with compliance officers of different banks in Port Harcourt, the Rivers State capital, on Friday.

According to him, apart from colluding with the corrupt politicians and “terrorists”, the banks also help Internet fraudsters commit financial crimes using money transfer services.

“The banks also help the politically exposed persons to steal and launder public funds.

“Money is being laundered and money is being used to fund terrorism in the country. There are more terrorist activities in this country. So, it is a good business for them.

“You will also agree with me that the banks give lifelines to internet fraudsters; the one we call Yahoo boys.

“They (banks) provide market for them through MoneyGram and Western Union that are readily available.

“They throw confidentiality to the wind and subject people’s accounts to a lot of intimidation and extortion.

“So, this is the reason we say we must come here. We have to talk. Unfortunately, we have fraudsters working in the banks; working right inside the banks,” he said.

More News

Yadda rikici a kan gishirin N20 ya yi sanadiyyar mutuwar wani mutum a Kano

Wani magidanci mai suna Zakari Hamza mai shekaru 45, ya gamu da ajalinsa a hannun kanen matarsa, wani Magaji Salisu saboda gishirin N20. Dan marigayin,...

Mahaifi ya fille kan ɗiyarsa don yin asiri

Jami’an tsaro na jihar Edo sun kama wani mutum mai suna Emmanuel Ovwarueso bisa zarginsa da fille kan diyarsa bisa zarginta da laifin kashe...

Sojoji Sun Kashe Mayaƙan IPOB 5

Dakarun rundunar sojan Najeriya da kuma ta rundunar sojan ruwan Najeriya a ranar Talata sun kashe mayaƙan ƙungiyar IPOB guda biyar a yayin musayar...

Ɗan agajin Izala ya samu lambar yabo, kujerar hajji, kyautar mota bayan ya tsinci naira miliyan 100 ya mayar wa mai su

Salihu AbdulHadi Kankia, mamba ne na kungiyar agaji ta kungiyar Jama’atu Izalatil Bid’ah Wa Iqamatus Sunnah (JIBWIS), ya samu yabo da tukuicin mayar da...