Nigerians have been warned not to permit politicians to use their bank accounts or businesses to launder money by the Economic and Financial Crimes Commission (EFCC).
The committee ruled that anyone—friends, associates, or family members—who permits individuals who are considered politically exposed persons (PEP) to use their bank accounts or businesses to launder money could go to jail.
Speaking during a one-day course on effective reporting of economic and financial offences, Abdulkarim Chukkol, the acting executive chairman of the EFCC, made these statements.
The session was held on Thursday in Ibadan, the capital of Oyo state, at the EFCC Zonal Command Office, Iyaganku. It was attended by journalists from print, electronic, and internet media.
Chukkol, who spoke through Halima Mustapha Rufa’u, Acting Zonal Commander of the EFCC, Ibadan Zonal Command, insisted that people who allow their businesses or bank accounts to be used to launder the proceeds of illegal activities run the risk of going to jail. This applies to both family members and friends of politicians and other people in positions of authority.
The Money Laundering Act of 2022, according to Chukkol, now classifies family members and close associates of politicians and public office holders, including senior civil workers, as politically-exposed persons.
The Special Control Unit against Money Laundering (SCUML), which has been given new life, is a crucial part of this framework and is leading the effort to combat money laundering and illegal financial flows among Designated Non-Financial Businesses and Professions (DNFBPs). These entities’ operations are now subject to more stringent regulation since they are susceptible to money laundering.
“On this matter, I would urge the media to inform the relatives and friends of politicians and other people in positions of authority that they run the possibility of going to jail if they allow the proceeds of illicit activity to be laundered through their businesses or bank accounts.
Politically exposed persons are now defined as family members and close associates of politicians and public office holders, including senior civil workers, under the Money Laundering Act of 2022.
