The Chairman of the Economic and Financial Crimes Commission, Ibrahim
Magu, says the anti-graft agency will eventually go after bank MDs found
culpable...whose banks are involved in money laundering, especially
through the use of private banking
"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" He said (Source - Vanguard)
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