Two northerns and one southern governor under EFCC radar over stashed cash, attempted money laundering

Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa alleged that three governors are planing to launder stashed billions of naira through table payment of salaries to workers.

Bawa said the agency is currently monitoring. He revealed that two of the governors are from the north and the other is from the south.

He called for the support of Nigerians when he spoke in an interview on Daily Trust while noting that the raid on Bureau De Change operators will be sustained.

He said; “I don’t know how they want to achieve that but we have to stop them from doing that. Well, we are working, they have not paid the salaries in cash yet but it is a very serious thing.

“The law is very clear regarding cash transactions. Anybody that is to consummate any cash transaction as an individual, if it is not through a financial institution must not be above N5million and if it is above that it is criminal for you to engage in such transaction. And for corporate entities it is N10million.

“Yes, I agree the salaries are not up to that but why are you all of a sudden, and all along you have been paying people salaries through their bank accounts and now you want to pay them in cash, what are you trying to do? They will come under a lot of guises, they are trying to do verification of officers, that is what we have gotten.”

Bawa also confirmed that there is a mad rush by some people to dispose off their stashed funds by buying properties.

He said; “We are aware of that. Even if you dispose of your property and you receive cash, for that cash to be of value to you after January 31, 2023, you have to take it to the bank; so what happened, are you coming to the bank with those millions? That is why we are working with the bankers and if you have this information let us know about it.”

NBA