Latest News
A Minister Bought $37.5m Property Through Bank MD – EFCC Boss, Bawa

Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission (EFCC) has narrated how a minister purchased a property through a bank chief.
Bawa spoke Tuesday in an interview with Sunrise Daily, a Channels Television programme.
The anti-corruption chief identified the real estate sector as a major conduit for money laundering.
Bawa disclosed that EFCC investigated a female minister, who bought $37.5million property from a bank and deposited $20million cash.
The chairman did not mention if the suspect is a serving or former minister.
Bawa observed 90 to 100 percent of stolen public funds are used for the procurement of houses and lands.
“We investigated a matter in which a bank MD marketed a property to a minister and agreed to purchase it at $37.5m.
“The bank then sent a vehicle to her house to evacuate $20m from her house in the first instance,” he said.
Bawa added that the financial institution put the money in their system and paid the developer.
The bank then got a lawyer to set up a special purpose vehicle (SPV) where the title documents were transferred into.
Bawa said the legal practitioner is currently claiming to be the owner of the house.
-
Latest News2 weeks ago
Benin City Stormwater Scandal: How Obaseki Wasted ₦225 Billion Trying to Bury Oshiomhole’s Legacy
-
Latest News2 weeks ago
Appeal Court Dismisses Akpabio’s Motions, Orders ₦100,000 Payment to Senator Natasha
-
Latest News2 weeks ago
Dele Momodu Drops Political Bombshell: ‘My Soul Has Left PDP
-
Latest News2 weeks ago
Federal Government Warns Against Paramilitary Job Scam
-
Latest News2 days ago
President Tinubu Escapes Attempted Attack During Kaduna Speech
-
Latest News2 weeks ago
Sanwo-Olu, Ooni Of Ife, GAC, Alake Of Egbaland Storm Tinubu’s Lagos Residence In Powerful Sallah Homage(Video)
-
Latest News1 week ago
Road Reconstruction: Okpe Community Appreciates Momoh
-
Latest News6 days ago
Stolen Nigerian Government Vehicles Recovered in Ghana and Niger Republic
-
Latest News2 weeks ago
Torrential Flood Ravages Oyo Communities, Leaves Millions in Damages
-
Latest News6 days ago
Appeal Court Overturns Forfeiture of Emefiele’s Assets, Orders Retrial
-
Latest News4 days ago
Back-to-Back Impact: Momoh, NDDC, EFCC Storm Bayelsa with Game-Changing Projects
-
Latest News7 days ago
BUSH RADIO ACADEMY STANDS STILL AS STAFF, BOARD CELEBRATE PRINCIPAL OSIGWE OMO-IKIRODAH ON HIS BIRTHDAY