Financial crimes: EFCC to beam searchlight on real estate — Bawa
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, has stated that the Commission will turn attention to real estate in its anti-corruption drive.
Mr. Bawa made the statement when he received members of the House of Representatives Adhoc Committee Investigating Real Estate Developers, led by the Chairman, Honourable Blessing Onyeche Onuh, at the headquarters of the Commission in Jabi, Abuja yesterday.
Bawa urged the House of Representatives to insist on the enforcement of regulations by relevant authorities in the real estate sector.
He said this will help to check sharp practices and money laundering by operators in the sector.
He said: “Real estate is the highest avenue through which corrupt Nigerians launder proceeds of crime.
“When I heard of your committee, I thought this was an opportunity to work with the representatives of the people, to discuss how we can deal with this issue.”
He urged the committee to prevail on those charged with the responsibilities of regulating the sector.
He noted that the major challenge the sector faces is the poor enforcement of regulations.
Bawa said the anti-graft agency was determined to fight financial crimes in the sector.
‘It has restructured the Special Control Unit against Money Laundering, SCUML to enhance its performance,’ he added.