Ibrahim
Magu , the Chairman of Economic and Financial Crimes Commission (EFCC) has said
that the agency would soon go after banks being used for the looting of the
nation’s treasury and money laundering.
He
asked the Central Bank of Nigeria (CBN) to stop private banking in the country
and pledged the determination of his team to give corruption a brutal fight.
Magu
was reported by the agency’s in-house magazine, Alert, as telling Channels
Television in an interview that the era was gone when treasury looters kept
their money under the guise of private banking. He said there was no more
hiding place for banks to be used by corrupt public officials and fraudsters.
He
said: “We are not only going after the personnel of banks, we are also going
after the banks. What happens is that when a staff of the bank is involved in
such activities, what the bank does is to take the person out of the system
through dismissal.
“But
now, we are going to go after the banks and the personnel used to perpetrate
the fraud. It takes two to tango. In fact, very soon, you will see us going
after the managing directors of the banks.
“We
don’t care what happens because the right thing has to be done because they
have given a lot of room for money laundering activities to thrive. They were
used to hide all the stolen money.”
“We
had a discussion with the Governor of Central Bank of Nigeria, Mr. Godwin
Emefiele, and I insisted that this so-called private banking should be stopped.
It is illegal; it is wrong,” he said.
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