You‘re money laundering outfits- EFCC tells NGOs


EFCC, yesterday, descended on non-governmental organisations in the country, describing some of them as vehicles for money laundering. Head of the agency’s Special Control Unit against Money Laundering, SCUML, Angela Nworgu, who made the allegation at a seminar for non-financial institutions in Abuja, also accused some of the organisations of serving as a conduit for money laundering and criminal activities. Click to continue reading…

Nworgu said that research by the Financial Action Task Force had indicated that money launderers use NGOs to carry out layering of stolen wealth through several countries to disguise the actual origin of the money.
But many NGOs have kicked against the labelling by the EFCC, asking it to name the particular groups involved in money laundering. They also said EFCC should work towards checking rising corruption in the country and justify its existence.

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