EFCC Arrests Two Car Dealers For Money Laundering In Adamawa
The Economic and Financial Crimes Commission, (EFCC), has confirmed the arrest Alhaji Abba Galadima and Alhaji Mansur Abdurahman car dealers for non compliance with the Provisions of Money Laundering act in Adamawa state.
A statement signed by Bello Adamu Bajoga. Head, Public Affairs Department, EFCC, Gombe Zonal Office said, Alhaji Abba Galadima of HAMABB MOTORS NIG. LTD along Atiku Abubakar road, Jimeta yola and Alhaji Mansur Abdulrahman of Halal Synergy Limited were arrested by the SCUML unit of the commission.
“The Special Control Unit Against Money Laundering (SCUML) of the Economic and Financial Crimes Commission, EFCC Gombe Zonal office raids HAMABB MOTORS NIG. LTD along Atiku Abubakar road, Jimeta Yola, and Halal Synergy Limited along Galadima Aminu Way, in Adamawa.
“The duo for raided for non compliance with the Provisions of Money Laundering (Prohibition) Act, 2011 (as amended) and the regulations of Designated Non Financial Institution (Regulatory Manual) 2013 that regulates the activities of DNFIS.
“The companies belongs to Alhaji Abba Galadima and Alhaji Mansur Abdurahman respectively and the duo were arrested.
“Several efforts made by the SCUML officers from Gombe Zonal office by serving the companies with letters of notification for registration in June, 2016, as well as inspection and sensitation in July and November 2017 respectively to register proved abortive.
“Another observation letter was equally served to the companies sometime in 2017 to comply with the law but also yielded no results.
“The Companies’s actions violated the provisions of Section 3; Section 5 (a) & (b), Section 9 and 10 of Money Laundering ( prohibition) Act, 2011 (as amended), as clearly stated in the observation letters issued to them.
“Their non compliance resulted to non registration with SCUML, non reporting transactions and accepting cash payment exceeding the threshold provided by law.” the statement explained.##