Minister bought $37.5m property – EFCC Chairman

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Abdulrashid Bawa

Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has narrated how a minister purchased a property through a bank chief.

Bawa spoke yesterday in an interview with Channels Television.

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 37.5 million dollars property from a bank and deposited 20 million dollars in cash.

The EFCC chairman, who withheld the identity of the suspect, did not also state whether she is a current or former minister.

Bawa observed 90 to 100 percent of stolen public funds are used for the procurement of houses and lands.

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