90% of money laundering is through real estate— EFCC
Abdulrasheed Bawa

By Johnbosco Agbakwuru – Abuja

Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, said the Commission was diligently prosecuting former Chief of Air Staff, Air Marshal Adesola Amosu, former governor of Imo State, Ikedi Ohakim, former governor of Katsina, Ibrahim Shema, the former governor of Niger State, Dr Muakaluzu Babangida Aliyu, and the former Secretary to the Government of the Federation, SGF, Babachir Lawal, among others. 

Bawa also said that the commission will beam searchlight on car, jewelry dealers and real estate developers who may be serving as conduits for money laundering. 

Towards this, the commission is working to strengthen its Special Control Unit against Money Laundering (SCUML) in the belief that checkmating the activities of non-designated financial institutions would reduce the cases of such crimes in the country. 

Speaking to State House correspondents during the ministerial briefing organized by the Presidential Communication Team at the presidential villa, Abuja on the anti-graft agency boss said: “SCUML that is being managed by the EFCC, as well as the ministry of trade and investment, is expected to do a similar thing but this time on the non-designated financial institutions.

“We are talking about car dealers, jewelry dealers, and real estate, etc. 

“If we can checkmate the problems associated with real estate laundering of proceeds of crimes in this country will reduce. 

“It is on that thinking that we are working on strengthening on this special control unit against money laundering. 

“We are working with the two houses of the National Assembly to strengthen the legal framework of this special control unit against money laundering.”

The EFCC boss also said that the female Minister that purchased a property through a bank chief, served under the previous administration.

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He clarified his statement saying that it is the case of former minister of Petroleum, Diezani Madueke. 

The anti-graft agency boss, who had made the initial statement during a television interview with a television station early in the week, had recounted how $20 million cash was conveyed from the minister’s house to pay for the real estate, working with an managing director of a bank. 

Fielding question from journalists on why neither the minister involved in the purchase of the property had resigned nor the bank MD being prosecuted, he said the Minister was not in the President Muhammadu Buhari’s administration, adding that he merely referenced the ongoing case of the former minister as an example.  

When asked when the former minister would be prosecuted, he said she would be charged when she becomes available. 

Bawa said the EFCC’s intelligence unit has unearthed the movement of N6 billion from an unnamed state government coffers, saying that this finding was made possible by of the determination of the commission to restructure for more efficiency. 

According to him, “Since I came on board, we have embarked on the restructuring of the agency, one of the key thing I succeeded in doing is the creation of the department of intelligence.

“This is based on our resolve to Nigerians that going forward, our investigation is going to be intelligence-based.

“Since the creation of the department, we have received meaningful intelligence. Just last week, they sent a report of certain government that has taken money out of the treasury of the state government in cash, over a period of time amounting to over N6billion which is a useful thing, that we are using to investigate that aspect.”

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He said the unit was assisting the agency in prosecuting cases by forwarding findings to other departments, including the operations department.

On the recent recoveries made by the commission, he said it includeN6 billion, over $161 million, over £13,000, €1,730, 200 Canadian dollars, CFA 373,000, ¥8,430.

Bawa explained: “Let me use this opportunity to clarify issues. There are a number of recoveries that the EFCC has made over the years but is not all recoveries made that belongs to the Federal Government.

“We have made recoveries for victims of criminals and they can be individuals, local government, state government, federal government, corporate entities whether in Nigeria or outside Nigeria. There are also recoveries that are indirect recoveries. 

“Just a couple of weeks back, we recovered $100 million for the Nigeria Ports Authority but the monies were paid into the account of NPA but through our efforts.

“Am I not going to record that we have recovered such an amount for NPA? Are you going to see it in the EFCC recovered account with the CBN? No. 

“There are recoveries that are made directly into the EFCC account. It is through systems and processes.

“There is Department of Asset Forfeiture and Recovery Management in EFCC responsible for collating all the data regarding recovered assets, assets on interest forfeiture and assets on final forfeiture as well as their location and of course their management.

“From the time I took over, we have recovered over N6 billion, over $161 million, over £13,000, €1,730, 200 Canadian dollars, CFA 373,000, ¥8,430.

“We have recovered 30 real estates, one carpet, 13 electronics, one farm land, one factory, two motorcycles, one filling station and about 32 automobiles.”

Speaking on pending cases, he stated: “We have prosecuted a number of people within this period, secured 185 convictions and you are aware that for two months the courts have been on strike, we have filed 367 cases and as I said within this week, we are going to file 800 cases in court on public corruption as well as cybercrime.

“All the known politically exposed cases that you are aware of that are in court are still in court and we are vigorously and intelligently going to sustained their prosecution.

“Yesterday (Wednesday), you have all reported it, we succeeded in securing the convictions of an ex-bank MD, Francis Atuche. He was sentenced to six years imprisonment on all 21 out of the 27 count charges.

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“Of course, it is to run con-concurrently, it involves about N27 billion. We have been prosecuting that matter from the 16th of October 2009, judgement was only given yesterday. 

“We are determined to continue to prosecute no matter how long it takes and no matter the amount of resources that is involved. And that is why those of us in law enforcement say it time and time again, there is no budget in law enforcement because you never can tell where it will take you.

“It can take you up to the six continents and back and you have to prove your case beyond all reasonable doubts. So also in the case of prosecution, it can take one, two or several years.

“The cases of Amosu is on going, Ibrahim Shema, Adebayo Alao-Akala, Ikedi Ohakim, Muazu Aliyu. 

“Others are Olajide Omokore, former MD Intercontinental  bank, Erasmus Akingbola, ex GMD NNPC Andrew Yakubu, ex-judge Rita Ofili-Afumogobia, Femi Thomas ex-ED NHIS, Babachir Lawal, former SGF.

“The vision that is rapidly taking place in the EFCC today, is that of a world class, responsive and responsible law enforcement agency, with consideration of professionalism, integrity, transparency and accountability. 

He also spoke on the rampant internet fraud in the country, disclosing that the commission would file about 800 of such cases in court soon. 

He said: “The rising increase of internet fraud is a huge problem. From January to 10th of June 2021, we arrested 1,502 internet fraudsters across the country. 

“On Monday that the court resumed, we attempted to file close to about 800 cases of internet fraud. It is a serious problem and we are working tirelessly towards curtailing it. 

“We are working with states government that we have identified to be more vulnerable to this. It is something parents, elders, institutions should be talking to one another, it is tarnishing the image of this country.

“They are doing it on a daily basis, they see it as another way of getting another income which is worrisome to us. 

“The chunk of those doing this are young boys of between 25 and 34, in their active live. Coincidentally, I am one of them being a young man, people from my constituency are the ones doing this and we will continue to talk to them. 

“The commission is focused on these cyber criminals and will continue to carry out enlightenment, carry their fight to their enclave and collaborating with our partners particularly the media. We need your assistance her

“We are building a tactical center that will solely deal on this issue of cybercrime. 

“The new EFCC is harnessing the skills of well trained and motivated workforce, leveraging on the support of every stakeholder both at home and abroad to deliver on the vision of a Nigeria free of all forces of economic and financial crimes.

“Nigeria is the only country we have, we are the ones to salvage it and of course we need the support of everyone home and abroad, please don’t cross the line. 

“Please remember that if you are not one of us that wants to take Nigeria to it’s promise land, the EFCC will get you anywhere, anytime.”

He also said that the EFCC will soon begin to beam its searchlight in the Petroleum sector. 
Bawa raised the alarm that there was a grand plan to tarnish his image in this short period of 100 days he has worked as the EFCC Chairman. 

He said those after him have earmarked huge sums of money to be distributed to some social media platforms for the hatchet job. 

The EFCC boss said the commission has identified many ghost workers through the Integrated Payroll and Personnel Information System, IPPIS, payment, adding that some of the culprits are facing prosecution.

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