Economic and Financial Crimes Commission (EFCC) Chairman, Ibrahim Magu, revealed that he has insisted that the Central Bank Governor, Mr. Godwin Emefiele must put an end to Private Banking Services offered by many Nigerian Banks.
The EFCC boss has issued a threat to go after Managing Directors of Nigerian Banks in his ongoing anti-graft war, as he said that they have created rooms for money laundering activities to thrive.
Speaking on this, Magu said, “We had a discussion with the governor of the Central Bank of Nigeria and I insisted that this so-called private banking should be stopped. It is illegal. It is wrong. We are not only going after the personnel of the banks but also after the banks.
What happens is that when a staff of the bank is involved in such activities, what the bank does is to take the person out of the system through dismissal. But now, we are going to go after the banks and the personnel used to perpetrate the fraud. It takes two to tango.
In fact, very soon you will see us going after the Managing Directors of the banks. We don’t care what happens because the right thing has to be done. These people have given a lot of room for the money laundering activities to thrive. They were used to hide all the stolen money.”
The EFCC boss also dispelled rumours that the agency has been biased towards allegedly corrupt persons from the ruling All Progressives Congress (APC), he said: “There is no sacred cow as far as this fight against corruption is concerned. We will go after anybody who has committed an offence. We will collect the money back, so that it will go back to the treasury and be used for the original purposes. I don’t care whether you’re black or white or you come from party A or Party B; the moment it can be established that you have stolen from the public treasury, we will go after you.
Even right here [in EFCC], if we discover that you’re corrupt, we will kick you out. And we are already doing that. So we don’t go after innocent people. We are going after the thieves of state resources,” he said.
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