The Chairman, Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, says the Commission is set to go after real estates in Abuja, Lagos and Port Harcourt in search of monetary loots.
Bawa said this on Thursday, June 17, at the media briefing organised by the Presidential Communication Team at the State House, Abuja.
The Chairman said the Commission has identified real estate as an avenue for money laundering in the country.
Bawa who noted that 90 to 100 percent of stolen public funds were used for the procurement of houses and lands, added that the EFCC would go after car, jewelry dealers and real estate developers who might be serving as conduits for money laundering.
“Estates are cropping up in Abuja left, right, centre every day. There are estates in this country that are sold off-plan, sold and paid for.
So, it’s a huge problem that we need to work with the media to unearth this issue. On our part, we’re vigorously going after that, after the real estates, particularly in Abuja, Lagos and Port Harcourt.
That is an avenue that we’ve identified as an area where they’re hiding money” Bawa said.
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