The Economic and Financial Crimes Commission on Monday arrested five persons for not complying with anti-money laundering laws.
Although the details of the arrest were still sketchy as at press time, sources in the commission said the Managing Director of Zenith Properties Limited in Maitama district, Abuja, Mr. Ifobiya Seyi and the Credit Controller of Exclusive Stores, Wuse 2, Abuja, Mr. Obinna Ararume were among those arrested by the anti-graft agency.
They were said to have been arrested by the commission’s Special Control Unit Against Money Laundering as part of the on-going efforts to enforce compliance with the laws against money laundering. When contacted, the spokesperson of the EFCC, Mr. Wilson Uwujaren, confirmed the arrests.
He said, “Three others arrested during the special operations are Mr. Anita Udoh, one of the managers of Exclusive Stores; Mathew Omale and Babayaro Bako, both security men of the company, who obstructed the commission’s officials from carrying out their duties.”
Section five of the Money Laundering Act 2011 requires existing Designated Non-Financial Institutions to submit to the Ministry of Commerce, within three months from the commencement of the Act, a declaration of their activities and all record of transactions in chronological order, indicating each customer’s surname, forenames and address.