The EFCC boss said this at a meeting with the Association of Chief Conduct and Compliance Officers of Banks in Nigeria on Thursday. He, therefore, urged compliance officers to assist the Commission in curbing the inflow of illicit funds by reporting suspicious transactions to the EFCC. Magu said, “Foreign properties bought with proceeds of crime are sold and the proceeds transferred to Nigeria through international banks as legitimate funds that can be used to finance several activities including elections. “Goods bought with proceeds of crime abroad are sent to Nigeria to support empowerment programs during elections periods. The EFCC boss said private bankers for international banks facilitate the movement of proceeds of crime through physical movements of cash to the country via charted airlines.

Source: Punch January 31, 2019 14:26 UTC