$2.8M SEIZED FUND: UNION BANK CLAIMS OWNERSHIP

$2.8M SEIZED FUND: UNION BANK CLAIMS OWNERSHIP

by thrilliant
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$2.8M SEIZED FUND: UNION BANK CLAIMS OWNERSHIP

EFCC insists on investigating a transaction

Following the confiscation of $2.8 million by the Economic and Financial Crimes Commission (EFCC), which it claimed to be laundered funds, Bankers Warehouse Limited, which moved the currency on behalf of Union Bank, has said transporting the funds through its couriers was not only legitimate but also a normal business operation.
But the EFCC has said it would continue with its investigation of the matter and that it is after this it would determine the next line of action as far as the matter is concerned.

$2.8M SEIZED FUND: UNION BANK CLAIMS OWNERSHIP

$2.8M SEIZED FUND: UNION BANK CLAIMS OWNERSHIP

In a letter, signed by its Head of Operations, Dr. Lawrence Ijebor, which was addressed to the Deputy Governor of the Central Bank of Nigeria, Mr. Adebisi Shonubi, Bankers Warehouse, said the two men, namely, Ighoh Augustine and Ezekwe Emmanuel, paraded by the EFCC as suspected money launderers, were staff of the company, who was on official CIT (cash in transit) movement, covered by a letter of authority issued by Union Bank. According to the company, the men were paraded and detained despite identifying themselves as employees of Bankers Warehouse with the identity cards.

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 $2.8M SEIZED FUND: UNION BANK CLAIMS OWNERSHIP

“We wish to convey to you that once again, we are facing a challenge with one of the security agencies (this time the EFCC), who detained our couriers yesterday evening while attempting to board an Arik flight from Enugu to Lagos, conveying currency on behalf of Union Bank. They were transporting US Dollar.

“When questioned, they presented their identity cards, identifying themselves as Bankers Warehouse employees on official CIT movement and also provided the letter of authority issued by the bank, covering that movement. Despite the information provided, the EFCC insisted on detaining our employees, taking possession of our goods and threatening to confiscate the currency, without making themselves available to our senior managers, or other agencies familiar with our movements,” the letter titled, EFCC Confiscation of Goods in Transit with Bankers Warehouse, read.

“This evening, our attention has been drawn to an article in Daily Trust Online, as well as the EFCC website https://efccnigeria.org, where our staff have been paraded as suspected money launderers, exposing the identity of our client and portraying our company in no just negative, but criminal light,” it added.

$2.8M SEIZED FUND: UNION BANK CLAIMS OWNERSHIP

Bankers Warehouse, therefore, sought the intervention of the Central Bank of Nigeria to address the “issue of constant harassment” of its staff by security agencies, which “constitutes a risk that could threaten the lives and safety of our employees and the cargo they are tasked with conveying.”

“And also kindly recall that the CBN had previously called a meeting of stakeholders regarding the issue in the past. It may be prudent to engage stakeholders again, to provide clarity on the legitimacy, coverage and mode of operations of registered CIT operators,” the company added in the letter.

READ  ALSO: EFCC ARRESTS THEODORE ORJI OVER N27BN FRAUD

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The EFCC had on Friday said its operatives arrested two men with the sum of $2.8m suspected to be laundered funds. The two men who are the staff of Bankers Warehouse were arrested at the Akanu Ibiam International Airport in Enugu on their way to Lagos.

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