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EFCC And ICPC Raises Alarm On How Real Estates Are Being Used For Money Laundering In The Country
EFCC And ICPC Raises Alarm On How Actual Estates Are Being Used For Cash Laundering In The Nation. The Impartial Corrupt Practices and different associated offences Fee (ICPC) and the Financial and Monetary Crimes Fee (EFCC) has raised an alarm of actual estates within the nation being allegedly used to launder illicit funds.
Showing earlier than a Home of Representatives Advert-Hoc Committee investigating the actions of actual property builders within the Federal Capital Territory (FCT) on Thursday October 28, ICPC Chairman, Prof Bolaji Owasanoye mentioned a research they carried out between 2010 and 2011, revealed the sharp practices within the sector together with large corruption and injection of illicit funds.
actual estates
Owasanoye who revealed that the company has recovered 241 homes and 60 buildings from corrupt public officers by way of its investigation, added that actual property builders have a behavior of promoting allotted lands for mass housing in piecemeal to the best bidders.
Chairman of Financial and Monetary Crimes Fee (EFCC), Mohammed Bawa who was represented by a director of the company, Daniel Esei, alleged that actual property builders aren’t complying with extant legal guidelines which aggravated the sharp practices within the sector.
He accused actual property builders of breaking the legislation by permitting third events to make funds or purchase homes, shortchanging the true subscribers. The EFCC Chairman famous that there’s want for extra stringent legal guidelines to permit the appliance of sanctions on actual property builders who go in opposition to the legislation.
