The Acting Chairman, Economic and
Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has called on financial
institutions to avoid laundering illicit funds for corrupt politicians and
criminals.
In a statement, the Commission’s
Acting Head, Media and Publicity, Mr. Tony Orilade, in Abuja on Thursday, said
Magu gave the charge during the general meeting of the Association of Chief
Compliance Officers of Banks In Nigeria (ACCOBIN) held in Lagos.
Magu said many politicians, who
stole the commonwealth had begun to repatriate their loot to the country for
the purpose of influencing the elections through vote buying and compromising
of election officers
The EFCC boss urged members of
the group to join hands with the Commission to ensure that the coming elections
were not compromised to avert the negative impacts that might follow.
Magu said, “We are all under a
civic duty to comply with our various responsibilities and ensure that we do
the needful to obey the laws and regulations governing the elections.”
He said political inducement had
taken other forms under different names such as “stomach Infrastructure”,
“empowerment schemes”, “non-interest yielding loans” and “outright cash
hand-outs”.
Magu described members of the
group as stakeholders in the fight against corruption and said, “your
obligations are not different from your usual filing of suspicious transactions
reports to the relevant authorities.”
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