Looters now hide Money In Abandoned Buildings – EFCC

With the current war against corruption ramping up in Nigeria, it seems that looters have opted for a new place with which to hide their stolen money– abandoned buildings.

According to the EFCC, looters have realised that banks are no longer safe and would rather trust the ‘security’  of uncompleted or abandoned buildings to hide their money. The Punch reports that the Acting chairman of the EFCC, Ibrahim Maguires said this in Abuja yesterday.

He said, “People are now scared of keeping monies in banks, as it can be traced easily. Monies are now kept in abandoned houses in the country.” Magu also appealed to bureau de change operators to stop being used as middle men through which money is laundered.

Magu said, “BDCs move billions of naira in a day and there is no proper documentation of money laundered. I appeal to the BDCs to stop that, as we will begin to prosecute bureau de change operators to serve as deterrent. Bankers are also involved in corrupt acts, as they don’t carry out due diligence.’’

He also asked stakeholders and other related parties to join hands with the EFCC to battle corruption.