EFCC Reveals 2 States Notorious for Money Laundering

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Ibrahim Magu, Acting Chairman of the Economic and Financial Crimes Commission (EFCC) has revealed two states which are notorious for money laundering.

Magu made the revelation while speaking with newsmen in Port Harcourt. He described Lagos and Rivers state as the headquarters for money laundering in Nigeria.

According to him, Lagos was unarguably the first home where ill-gotten home is concealed, followed closely by Rivers state.

“I think Rivers State is the next to Lagos in terms of crime. This (Rivers) is the headquarters of money laundering because there is a lot of oil money here.

“I think you can rate Port Harcourt the second to maybe Lagos when you talk of people playing with sinking, diving, hiding, maybe because of the large space of oil deals.”

The EFCC Acting Chairman also spoke on the court order restraining the anti-graft agency from investigating Government office holders which was obtained by Peter Odili, former Rivers state Governor.

“Nothing is going to stop us; even the issue of the court order allegedly obtained by Dr Peter Odili and co to stop the EFCC from investigation and prosecution has been overtaken by event.

“I am telling you that, that judgement cannot stand; it will only take some time. it cannot hold and we are going to conclude the investigation. There are so many investigations we are doing.

“We will take it before the court; let the court refuse to prosecute their case. I am sure the matter has suffered for about 13 years now. we are going to test it. The matter is in the Supreme Court, we will follow it up.

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“That decision that is pending in the Supreme Court does not actually… cannot hold water again. There are subsequent judgements that have discarded it. Clearly, there are other judgements that came up and said nobody, not even the judge, not even the judiciary, not even the court can stop us from investigating and prosecuting.”

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