The Acting Chairman, Economic and Financial Crimes Commission, EFCC, Ibrahim Magu has called on bankers in Maiduguri, Borno State to ensure that they comply with the Money Laundering Act, and report to the anti-graft agency, any person(s) moving cash above the allowed threshold.

Magu gave the charge on Monday, April 8, 2019 during an interactive session with the Chief Compliance Officers of banks.

According to Magu, “Nobody should carry cash above the threshold of above N10 million for corporate organizations and N5 million for individuals; anything above the threshold must be routed through financial institutions.”

Magu also emphasized the role of Non-Governmental Organizations, NGOs in the North-East stressing that the EFCC will in the near future, begin the profiling of such organizations with a view of monitoring their financial activities.

He said: “We must profile all the NGOs in the North-East. I don’t know why an NGO will open more than 40 bank accounts.

“We are going to ask your various banks to give us statements of accounts for each and every NGO.

“The issue of money laundering, terrorist financing and leakage of information will be eliminated by the Commission with the help of bankers across the country.”

While answering question from a bank official, Magu said, “Aside from terrorist financing, the Commission is trailing the activities of ‘yahoo -yahoo boys’ on how victims were defrauded in the hands of those fraudsters by using latest technology. The Commission through the Nigerian Communications Commission is working assiduously to stop the menace”.



Source: http://www.ngg.ng/2019/04/09/efcc-chairman-ibrahim-magu-asks-bankers-to-report-any-money-laundering/

Zombies on their way here now like the muntula below me

Naso e suppose be

Only the aspect that involves profiling of NGOs excited me..
Check me out for my natural weight loss tips

Ok

Ok

He said: “We must profile all the NGOs in the North-East. I don’t know why an NGO will open more than 40 bank accounts.
“We are going to ask your various banks to give us statements of accounts for each and every NGO.

This is the right way to go.
This is how it is done in a good country.
Slow and steady we will get to the New Nigeria we voted for and tell our children stories on how some corrupt politicians and CRIMINALS nearly sold our country and everyone in it!

While answering question from a bank official, Magu said, “Aside from terrorist financing, the Commission is trailing the activities of ‘yahoo -yahoo boys’ on how victims were defrauded in the hands of those fraudsters by using latest technology. The Commission through the Nigerian Communications Commission is working assiduously to stop the menace”.

Yahoo-Yahoo Boys, you are ALL in trouble in this country.
No wonder none of you guys voted for President Buhari.
No wonder you all wail on Nairaland 24/7 castigating the best President in the history of Nigeria.
Una go dey alright las las!

And miss on thier percentage? They won't do it. Hunger dey naija

Noting in this world will make a banker betray guymen because without them ,there will be no Yahoo and without Yahoo there will be no banker. If you dey game,you go Sabi.

How about the case of corruption against you?



Ghana calling Nigeria black

They will only report those that are not on the parole

slowpoke

NGO opening 40 accounts?

If they chase away all NGOs from the North East and face Boko Haram squarely, the insurgency would be over within a month.

NGOs in the North East treat Boko Haram manners wounded in combat. They treat those caught.

Imagine a Boko ram caught alive.
Medecins Sans Frontiers treat the Boko ram
Advocats Sans Frontiers represent them in court
Amnesty International agitate for their release
Unicef takes care of children of dead Boko rams

But see what our soldiers are going through. Mention a single NGO catering to children of deceased soldiers.

A University graduate who speaks Hausa, Kanuri or Fulfulde can get a job paying 500k with an NGO in Maiduguri. Its a source of lush pay to indigenes and they too don't want it to end. Borno has the third highest paying jobs in Nigeria courtesy of NGOs.

NGOs don't want the conflict to end because they get grants and donations which must keep flowing. For it to keep flowing, Boko has to keep killing.

What happened to the bourdillion saga! The money in those two trucks will surpass the cash limit x 10. At least a message from EFCC about the legalities will be sufficient.

Hotfreezer:
NGO opening 40 accounts?

Just imagine that!

How them wan meet target Year ago as a banker i was privy to one deal that weakned my soul. An agency created or commisioned by GEJ for victims of terrorism( he did fund raiser too). The agency had 7 billion in the bank. 2m was put in call account while the rest was in fixed deposit at 14% or so. And pple dey IDP dey starve one oga dey fix the money

Bankers are friends to money launderers.

looseweight:
Only the aspect that involves profiling of NGOs excited me

Good one, Mr. Mgau and EFCC
Mr. Magu also needs a special dept that would focus on the activity and connivance of bank staff in banking fraud and robbery.

For example, how does an ATM dispense FAKE NAIRA NOTES, if it is only the bank staff that load money into it?

How do Armed robbers know when a bank has just recieved a large chunk of notes from the CBN and they then decide to rob the Vault?

Why is First bank branches always robbed (with many loss of lives), especially in Ondo and Ekiti axes?

Bankers or Bank staff in recent times, have been doing a lot of criminal activities on customer Accounts and the EFCC needs to monitor them, monitor their phone lines and monitor their lifestyles for "indicators" that point to their culpability.
This should be a quiet, intelligence-led operation

Ah swear this will affect many rich corrupt men out there, part of the reason they never vote buhari

hahaha we reported Tinubus 2 bullion vans and Gandujes dollars what did you do Sir?

But we reported the CBN in burdillon

Hotfreezer:
NGO opening 40 accounts?

If they chase away all NGOs from the North East and face Boko Haram squarely, the insurgency would be over within a month.

NGOs in the North East treat Boko Haram manners wounded in combat. They treat those caught.

Imagine a Boko ram caught alive.
Medecins Sans Frontiers treat the Boko ram
Advocats Sans Frontiers represent them in court
Amnesty International agitate for their release
Unicef takes care of children of dead Boko rams

But see what our soldiers are going through. Mention a single NGO catering to children of deceased soldiers.

Pursue those NGOs away. They don't want the conflict to end because they get grants and donations which must keep flowing. For it to keep flowing, Boko has to keep killing.

is the Buhari govt not also treating and releasing Boko haram fighters? is the Buhari govt not the primary financial sponsor of Boko haram today under the auspices ransom payments

Excuzeme:
.
For example, how does an ATM dispense FAKE NAIRA NOTES, if it is only the bank staff that load money into it?

How do Armed robbers know when a bank has just recieved a large chunk of notes from the CBN and they then decide to rob the Vault?

Why is First bank branches always robbed (with many loss of lives), especially in Ondo and Ekiti axes?

[/b]

Offa Robbery - First Bank and Zenith Bank
Iwo Robbey - First Bank and Skye Bank
Ife Robbery - First Bank
Ikorodu Robbery - First Bank
Lapai Robbery - First Bank and UBA
Ankpa Robbery - First Bank
Auchi Robbery - First Bank
Ikere - Ekiti Robbery - First Bank
Ifako-Ekiti Robbery - First Bank
Idoani Robbery (Yesterday) - First Bank

He want Nigeria criminal banks to report Biafrans depositors.


I just pray let IPOB leadership install banking sectors as Biafra media networks are been restored by our supreme leader, so that those of us Biafrans using Nigeria banking sectors will start pulling out of all these fraudulent Nigerian banks controlled by Yoruba and Hausa Fulani jihadists.

We can do it.

I will destroy any nigeria banks trying to take over my money in their watch.

We need to boycott Nigeria banking sectors in Biafraland.

Okay

jokers.....

the Money laundering in front of your nose wey Daddy Tinubu dey use motor carry money about for Lagos, u no see

na useless reports to witch-hunt defenseless people u dey wait for

meanwhile, Maga and Magu sounds the same

It depends