EFFC Arrests 2 Car Dealers For Money Laundering
Abba Galadima of Hamabb Motors Nigeria Limited in Adamawa state and Mansur Abdurahman of Halal Synergy Limited have one thing in common.
They are both cooling their heels in the custody of the Economic and Financial Crimes Commission [EFCC] Gombe Zonal office.
They were arrested by men of the Special Control Unit Against Money Laundering (SCUML) of the anti-graft agency, after their companies were raided for alleged money laundering activities.
The raid was said to be because of noncompliance with the Provisions of Money Laundering Prohibition Act, and the regulations of Designated Non-Financial Institution Regulatory Manual [DNFIS] that regulates the activities of DNFIS.
According to a statement by Gombe Zonal office of the EFCC, several efforts made by SCUML officers from the zonal office in July and November 2017 to get the two companies to register proved abortive.
“The companies served with letters of notification for registration in June 2016, as well as inspection and sensitization on the importance of attached to the registration.
“Another observation letter was equally served to the companies sometime in 2017 to comply with the law but also yielded no results”.
These actions by the two companies contradict and violates; section 3, section 5 (a) & (b), section 9 and 10 of Money Laundering Act, 2011 as amended and that was said to have been stated clearly in the observation letters issued to the companies.
They were arrested for noncompliance and non-registration with SCUML, non-reporting transactions and accepting cash payment exceeding the threshold provided.
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