Real Estate, Safe Haven Of Money Launderers – EFCC Chair

Real Estate, Safe Haven Of Money Launderers – EFCC Chair
Abdulrasheed Bawa

Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has stated that the real estate sector remains a safe haven for money launderers.

He spoke in Abuja yesterday when he received the President of the Nigerian Institution of Estate Surveyors Valuers (NIESV), Emmanuel Wike.

“Just last month, we discovered a retired civil servant built a University in Kaduna and nobody, including your members, reported such transactions.

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‘’So, I’m still bold to say that the real estate sector is one of the easiest places for money launderers. That’s why we’re empowering SCUML with all the necessary tools to enable us achieve our mandate, so whatever we are doing is backed by the law”, he said.

He charged members of the NIESV to comply with extant laws regulating their practices by furnishing the EFCC with full details of suspicious transactions in line with the Money Laundering Prevention and Prohibition Act (2022).

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