{"id":82246,"date":"2021-06-15T15:43:18","date_gmt":"2021-06-15T14:43:18","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=82246"},"modified":"2021-06-15T15:43:18","modified_gmt":"2021-06-15T14:43:18","slug":"90-of-money-laundering-is-through-real-estate-efcc","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/90-of-money-laundering-is-through-real-estate-efcc\/","title":{"rendered":"90% of money laundering is through real estate\u2014 EFCC"},"content":{"rendered":"<div dir=\"auto\" style=\"text-align: justify;\">The Economic and Financial Crimes Commission, EFCC, Chairman, Abdulrasheed Bawa, has said that 90 percent of money laundering is done through the real estate sector.<\/p>\n<p>Speaking on Channels TV\u2019s Sunrise Daily on Tuesday, the anti-corruption agency boss stated that although the sector is monitored via the special control unit, more needed to be done.<\/p>\n<p>According to Bawa, \u201cOne of the problems we have now is the real estate. 90 to 100 percent of the resources are being laundered through the real estate.\u201d<\/p><\/div>\n<div dir=\"auto\" style=\"text-align: justify;\"><\/div>\n<div dir=\"auto\" style=\"text-align: justify;\">He said there are so many issues involved, but that they were working with the National Assembly to stop what he called \u201cthe gate keepers\u201d as there would be reduction in looting if there is no one to launder the money.<\/p>\n<p>Bawa, the EFCC boss, gave an example of a minister who expressed interest in a $37.5 million property a bank manager put up for sale.<\/p>\n<p>Abdulrasheed Bawa: \u201cThe bank sent a vehicle to her house and in the first instance $20 million was evacuated from her house.<\/p>\n<p>\u201cThey paid a developer and a lawyer set up a special purpose vehicle, where the title documents were transferred into.<\/p>\n<p>\u201cAnd he (the lawyer) is posing as the owner of the property. You see the problem. This is just one of many; it is happening daily.\u201d<\/p><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Economic and Financial Crimes Commission, EFCC, Chairman, Abdulrasheed Bawa, has said that 90 percent of money laundering is done through the real estate sector. Speaking on Channels TV\u2019s Sunrise&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":82247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-82246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>90% of money laundering is through real estate\u2014 EFCC - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/90-of-money-laundering-is-through-real-estate-efcc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"90% of money laundering is through real estate\u2014 EFCC - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Economic and Financial Crimes Commission, EFCC, Chairman, Abdulrasheed Bawa, has said that 90 percent of money laundering is done through the real estate sector. 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