– The EFCC chair, Abdulrasheed Bawa has made startling revelations about the link between money laundered and the real estate sector in Nigeria
– Bawa accused a banker of helping a minister to launder the proceeds of crime, noting that investigation into the matter is ongoing
– Corruption among government officials is rampant in Nigeria, severing past officials who served in government are under EFCC investigation
FCT, Abuja – Abdulrasheed Bawa, the chairman of the Economic and Financial Crimes Commission (EFCC) has disclosed that the commission investigated a female minister who bought a property worth N15.2 billion ($37m) from a bank.
He said the minister deposited 8.2 billion cash ($20m) for the property.
Bawa, however, did not disclose the identity of the suspect or whether she is a current or former minister.
The EFCC boss says the minister had the cash in her home
According to The New Telegraph, the EFCC boss stated that the 8.2 billion cash ($20m) was safely evacuated from her house, with the help of a vehicle provided by the bank.
‘’Let me just give you an example. We investigated a matter in which a bank’s MD (Managing Director) marketed a property to a Minister of the Federal Republic (of Nigeria), and the minister agreed to purchase that property. “And then, of course, negotiations took place back and forth. “At the end of the day, the minister agreed that, ‘yes’, she is interested in buying the property; agreed for $37. 5 million.
“Now, the bank sent a vehicle to her house, and then, in the first instance, $20 million was evacuated from her house. “The bank succeeded in putting it into their system, and they paid the developer.
Bawa described the real estate sector as one with grand scale corruption in the country.
Bawa says he receives death threats
Meanwhile, the EFCC chair said that he receives death threats often in his fight against corruption in Nigeria.
Vanguard reported that Bawa made the disclosure on Tuesday, June 15, while featuring on a television programme.
The EFCC boss also noted that the commission has put strategies in place to check corrupt practices in Nigeria.