Ibrahim Magu, acting chairman of
the Economic and Financial Crimes Commission (EFCC), says some “fraudsters in
banks are laundering public funds for corrupt politicians and terrorists”.
Magu made the assertion 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,” he said.
“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.”
The EFCC chairman said there are
some bad elements within the commission who give the fraudsters cover.
“We want to put in our machinery
to deal with such fraudulent activities of the bankers and some law enforcement
agencies,” he said .
“There are bad eggs among us,
even in the EFCC, there seems to be readily available partnership with some
fraudulent elements within the bank to perpetrate certain fraudulent activities
and money laundering. I think this is basically the reason we called this
meeting.”
Magu said the commission would go
after governors with outstanding corruption cases, but were covered by immunity.
“We will go after them. We will not let anybody go,” he said.
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