Why EFCC Named Lagos, Rivers Hdqtrs Of Money Laundering

By Ayodele Oluwafemi

THE Acting Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu has described Lagos and  Rivers states as the headquarters of money laundering in Nigeria.

Magu, on Tuesday, while speaking with newsmen in Port Harcourt, stated that Lagos State is the first position in terms of money laundering, closely followed by  Rivers.

The acting EFCC chairman disclosed that the rate of money laundering in Port Harcourt was high as a result of the oil business in the city.

He said, “I think Rivers State is the next to Lagos in terms of crime. This (Rivers) is the headquarters of money laundering because there is a lot of oil money here.

“I think you can rate Port Harcourt the second to maybe Lagos maybe because of the large space of oil deals.”

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