Anti-corruption and elections / EFCC
Magu Tasks Bankers on Money Laundering, Terrorist Financing
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 f…
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