Mr. Ibrahim Magu who was appointed as the acting chairman of the Economic and Financial Crimes Commission, EFCC on 9th November 2015 and who was consequently sacked by President Muhammed Buhari make several remarks on money laundering of public funds for politicians and terrorist group. He said the activities of money laundering and internet fraud was successful with the backup of the banking system, according to what was received by NIGERIA NEWS.
The chairman of Anti-Corruption Agencies in Commonwealth Africa makes the statement during the meeting in Port Harcourt with the compliance officer of various banks in Nigeria.
Banks are in supportive of Internet fraud…
The remarks he made during the briefing are on Friday are as follows:
“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 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 the 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,”