Tuesday, October 20, 2020

Nigeria: Banks becoming money laundering institutions, EFCC boss alleges

Nigeria: Banks becoming money laundering institutions, EFCC boss alleges 1
By Olaalpha

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EFCC arraigns ex-NDDC ED for alleged N3.6bn bribery

The Chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has declared that banks were being turned into fraud and money laundering institutions in Nigeria.

The EFCC boss said some bankers give cover to fraudsters, corrupt politicians and foreign nationals to operate, adding that recent discovery by the Commission showed that some foreign nationals sponsor terrorism through banks in the country.

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