We’ve Placed 3 Govs Under Close Surveillance Over Stashed Cash – EFCC
The Economic and Financial Crimes Commission (EFCC), has placed three serving state governors under close surveillance over alleged moves to launder stashed billions of naira through table payment of salaries to workers.
Chairman of the anti-graft agency, Abdulrasheed Bawa, who disclosed this in an exclusive interview with Daily Trust, said two of the governors are from the North and the third, from the southern part of the country.
He said the alleged move contravenes section 2 of the Money Laundering Prohibition Act.
Asked whether the commission would summon the governors, the Bawa said they are closely monitoring them.
His words: “Let me tell you something, the Intel that I have yesterday and I would want you to take this thing very seriously. Already, some state governors that have some of this cash stashed in various houses and the rest are now trying to pay salaries in cash in their states.
“I don’t know how they want to achieve that but we have to stop them from doing that. Well, we are working, they have not paid the salaries in cash yet but it is a very serious thing.
“The law is very clear regarding cash transactions. Anybody that is to consummate any cash transaction as an individual, if it is not through a financial institution must not be above N5million and if it is above that it is criminal for you to engage in such transaction. And for corporate entities it is N10million.
Yes, I agree the salaries are not up to that but why are you all of a sudden, and all along you have been paying people salaries through their bank accounts and now you want to pay them in cash, what are you trying to do? They will come under a lot of guises, they are trying to do verification of officers, that is what we have gotten.”