Ebun Francis|
The acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has said that some bank staff are laundering public funds for corrupt politicians and terrorists.
Magu also claimed that banks help internet fraudsters commit financial crimes using money transfer services.
The EFCC boss who made the disclosure in Port Harcourt, River state at a meeting with compliance officers of different banks in the country equally accepted that there are some bad elements within the commission who give the fraudsters cover.
Magu said, “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.”
“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 concluded.
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