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Nigerian Banks Aid Looters – EFCC Boss, Ibrahim Magu

Acting chairman of the Economic and Financial Crimes commission, Ibrahim Magu has accused Nigerian banks of providing a safe haven for corrupt looters in the country.

Magu blamed banks in the country for creating a friendly atmosphere for looters to steal money, noting that they are doing everything possible to make sure that the Nigeria Financial Intelligence Unit, NFIU, is severed from the agency.

While receiving a delegation of the International Monetary Fund, IMF, who were at the Commission’s Head Office in Abuja yesterday July 27th, Magu said; “I don’t trust the financial institutions. They create enabling

“I don’t trust the financial institutions. They create enabling environment for thieves to loot our money that is why they are fighting to remove the NFIU from us. They want to use a former Managing Director of a bank to head the NFIU”.

Magu’s statements are coming a few days after the Nigerian senate voted to separate the Nigerian Financial Intelligence Agency from the EFCC. The Senate defended its action by stating that the reason for the move was to enable Nigeria to rejoin the Egmont group after it was recently suspended for leaking sensitive financial information to the media.

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