The chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, says the EFCC is vigorously going after real estates in Abuja, Lagos and Port Harcourt.
Speaking Thursday at the media briefing organised by the Presidential Communication Team at the State House, Abuja, he identified the real estate sector as a major conduit for money laundering.
According to him, 90 to 100% of stolen public funds were used for the procurement of houses and lands.
“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.”
He said the commission would go after car, jewelry dealers and real estate developers who might be serving as conduits for money laundering.
Bawa said the commission was investigating the withdrawal of over N5bn from the treasury of one state in the country.
He said he was not referring to a serving minister in his recent narration of how a minister purchased a property through a bank chief.
He had on Tuesday in an interview on Channels Television, said the EFCC investigated a female minister, who bought $37.5million property from a bank and deposited $20million cash.
When asked why no minister had resigned or a bank manager being prosecuted over the matter, Bawa, said he was only making reference to a former Minister of Petroleum, Diezani Alison-Madueke’s case, insisting she would still be prosecuted “once she is in the country.”