Breaking News
Translate

MONEY LAUNDERING: EFCC to raid banks

*Commission monitoring seven notorious banks

*Jonathan may face northern consensus candidate – Ribadu

By EMMA OVUAKPORIE

ABUJA –  FOLLOWING the recent discovery of N12 billion in the bank accounts of two directors in the Federal Civil Service, allegedly diverted from the pension funds, the Economic and Financial Crimes Commission, EFCC, now plans fresh raid on the banks.

Vanguard learnt, yesterday, that the commission is now set to fish out top officials who aid corrupt government officials to launder funds stolen from the public purse.

It was gathered that the seven banks involved in the practice, which names were not disclosed, were  on top of the commission’s list of notorious banks whose top managers were already under the radar of the anti-graft agency.

A senior EFCC source told Vanguard, weekend, that “the inquiry into the banking sector was connected with the recent discovery of the looting of pension funds by two senior officials of the federal civil service.”

The source added: “The Pension Fund scam which saw the diversion of over N12 billion every year by some handlers of the scheme was an inter-bank arrangement where the affected top managers working in a syndicate filtered the money with the connivance of the government officials who have been talking with EFCC officials since the investigation took shape.

“No financial crime can take place without the support of the banks. Most of the banks in one way or the other are involved in such acts, but seven banks are fully involved and their managers are in the know of it.”
Vanguard, however, gathered that as soon as the banking officials got wind of the investigation, they began to make inquiries from the EFCC offices in Lagos, Abuja and Enugu, asking for whatever information they could get.

Spokesman of the anti-graft agency, Femi Babafemi, however, told Vanguard, that he was not aware of the development.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.