June 15, 2021

The Economic and Financial Crimes Commission (EFCC) Chairman, Abdulrasheed Bawa has revealed that grand corrupt activities are done through real estate.

The anti-corruption agency boss stated this during an interview on Channels Television’s Breakfast programme, Sunrise Daily on Tuesday.

He noted that 90% of resources are being laundered through real estate, while explaining that there are so many issues involved, but that they were working with the National Assembly to stop what he called “the gatekeepers” as there would be a reduction in looting if there is no one to launder the money.

“One of the problems we have in this country now is the real estate. 90 to 100 per cent of the resources are being laundered through real estate. Although they are being regulated that is not enough in terms of how they make their returns to the special control unit against money laundering.

“A lot of issues that we can talk all day about but I think this particular area if we get it right, you will see that it will not be fashionable for us to have these grand scale corruption.”