The chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has accused a female minister of laundering $37.5m.
Naija News reports that he disclosed this while speaking on Sunrise Daily, a current affairs programme, on Channels Television on Tuesday.
Bawa said the EFCC investigated a female minister, who he said, bought $37.5m property from a bank and deposited $20m cash.
The commission chairman however did not disclose the identity of the suspect or whether she is a current or former minister.
The EFCC boss added that about 90 to 100 percent of resources are being laundered through the real estate sector.
Bawa said, “One of the problems we have in the country is the real estate. Ninety to 100 per cent of the resources are being laundered through the real estate. Of course, they are being regulated but they are not enough in terms of how they give their returns to the Special Control Unit.
“We investigated a matter in which a bank MD marketed a property to a minister and agreed to purchase it at $37.5m. The bank then sent a vehicle to her house to evacuate $20m from her house in the first instance.
“The bank succeeded to put it in their system and paid the developer and then a lawyer set up a special purpose vehicle where the title documents were transferred into and of course, he is posing as the owner of the house.
“Without the help of the banker, the minister couldn’t have imagined collecting $20m from anyone with opportunity from the real sector; she could not have thought of where to launder the proceeds of crime.”
Source: Naija News