Buhari decries flagrant disregard for money laundering laws

President Muhammadu Buhari has expressed concern at the volume of foreign currency in the country. He feared they could be deployed for something untoward

A statement yesterday by his Senior Special Assistant on Media and Publicity, Garba Shehu, said the president raised the alarm during the Federal Executive Council (FEC) meeting where he accused some politicians of flouting money laundering regulations.

He, however, commended the Economic and Financial Crimes Commission (EFCC) for successfully tracking the money in “millions of United States dollars.”

According to him, the feat followed a presidential directive to investigative agencies to probe a number of high profile cases.

Reassuring the nation of his administration’s determination to wage a relentless war against money laundering and terrorism financing, Buhari appealed to Nigerians, especially politicians, to place the interest of the country above theirs.

However, the anti-graft agency has raised the alarm on the existence of fake dollar notes in circulation.

The commission also warned Bureau De Change (BDC) operators to be cautious in their transactions, noting that the fake currencies might likely be voodoo money.

In a statement yesterday, the agency’s Acting Chairman, Ibrahim Magu, said the warning was sequel to intelligence gathering.

He said: “Intelligence indicates that the dollar notes have features of genuineness, but forensic analysis by the commission reveals otherwise.

“We also wish to inform the public that the commission has just reliably gathered that the fake dollars note are likely to be voodoo money with the attendant consequences.

“We therefore warn the BDC operators to be cautious in their transactions from now till the end of the elections.”

Consequently, the commission took its sensitisation campaign to BDC operators in the Federal Capital Territory.

Led by the Assistant Director and Head, Creative Communications Unit, Aisha Larai Musa, the team reminded them that they are now a “soft target for money laundering and circulation of fake dollar notes.”

Musa urged them to report any incidents through any of these hotlines: 08141219896; 09077928772; 09051923475; 09074456025; 09051916064 and 09066270016.