BUHARI SAYS TOO MUCH FOREIGN CURRENCY IN CIRCULATION AS ELECTION APPROACHES

Buhari raises alarm over too much foreign currency in circulation ahead 2019 election

David Oladele / 13 minutes ago

– The Economic and Financial Crimes Commission has been commended by President Buhari for successfully tracking millions of United States dollars

– President Buhari said some politicians are flouting money laundering regulations in their desperate bid to capture political power

– A business partner and lawyer-friend to Atiku Abubakar, the presidential candidate of the PDP, was earlier arrested and detained by the commission

President Muhammadu Buhari Wednesday, February 20, expressed surprise at the huge amount of foreign currency flooding the country intended to influence the forthcoming general elections.

In a statement by the presidential spokesman, Garba Shehu, President Buhari accused some politicians of flouting money laundering regulations in their desperate bid to capture political power.

The president who made the accusation during the Federal Executive Council, meeting, however, commended the Economic and Financial Crimes Commission (EFCC) for successfully tracking the money in “millions of United States dollars.”

Reassuring the nation of his administration’s determination to wage a relentless war against money laundering and terrorist financing, the President again appealed to Nigerians, especially politicians to place the interest of the country above all others, as they troop out to cast their votes in the coming elections.

Meanwhile, Legit.ng had reported that a business partner and lawyer-friend to Atiku Abubakar, the presidential candidate of the PDP, was reportedly arrested and detained by operatives of the EFCC.

Uyi Giwa-Osagie is said to be suspected of laundering about $4 million, described by the EFCC as “suspicious election cash”.

It was learnt that the action of the commission followed a suspicious transaction by a bureau de change operator.

 

Related posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.