ADVERTISEMENT

'We're going after bank MDs,' EFCC boss says

Magu said he has urged the Governor of the Central Bank of Nigeria to stop private banking, saying its illegal.

 

According to Vanguard, Magu said he has urged the Governor of the Central Bank of Nigeria to stop private banking, saying its illegal.

"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," the EFCC boss said.

"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."

ADVERTISEMENT

Magu stressed the EFCC is no respecter of anyone found culpable, adding that the bank MDs given a lot of room for the money laundering activities to thrive.

He said they were used to hide all the funds stolen from Nigeria's treasury.

Pulse recalls that the Commission recently froze the Zenith bank account of the Ekiti State Governor, Ayodele Fayose who is being investigated for corruption.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Court grants senator accused of forging NYSC certificate ₦50m bail

Court grants senator accused of forging NYSC certificate ₦50m bail

Delta monarch declared wanted by military surrenders to police

Delta monarch declared wanted by military surrenders to police

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT