• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

EFCC Warns Real Estate Agents Against Money Laundering

by Abdullahi Olesin
2 years ago
in News
EFCC
Share on WhatsAppShare on FacebookShare on XTelegram

Commander of the Ilorin Zonal Command of the Economic and Financial Crimes Commission, (EFCC), Michael Nzekwe, yesterday called on the real estate agents to join hands with the commission in the fight against corruption and avoid being used as a conduit pipe for money laundering.

Advertisement

He said his command was determined to fight financial crime through enforcement of all regulations with a view to guide against sharp practices and money laundering, especially in the real estate sector.

Nzekwe spoke when he received executive members of the Kwara State chapter of Estate Rent and Commission Agent Association of Nigeria (ERCAAN) led by its chairman, Adewole Onibokun at the commission’s office in Ilorin, the state capital.

“Real estate is an avenue through which corrupt Nigerians launder proceeds of crime. I was delighted when I got your letter that you would be coming to us on a courtesy visit because I know the visit will offer us the opportunity to discuss how we can deal with this issue,” he said.

Nzekwe described the association as one of the critical stakeholders in the fight against corruption and admonished members to live above board, while paying serious attention to the provisions of the new Money Laundering Act, 2022 (as amended) and the Advance Fee Fraud Act and other Fraud Related Offences Act, 2006.

RELATED

JUST-IN: NRC Suspends Abuja-Kaduna Train Services After Derailment

JUST-IN: NRC Suspends Abuja-Kaduna Train Services After Derailment

2 hours ago
Fire Razes 5 House In Cross River Community

Fire Razes 5 House In Cross River Community

2 hours ago
ADVERTISEMENT

He warned that “ignorance of the law is not an excuse” adding that “the commission will go after anyone that violates any of the extant laws guiding the operation of the Real Estate Agents in the country.”

Nzekwe urged his guests to adequately acquaint themselves with the laws and regulations guiding the real estate sector particularly Section 3 of the AFF Act, 2006 which states that, “A person who, being the occupier or is concerned in the management of any premises, causes or knowingly permits the premises to be used for any purpose which constitutes an offence under this Act commits an offence and is liable on conviction to imprisonment for a term not more than 15 years and not less than 5 years without the option of a fine.”

He said this provision of the law placed serious responsibilities on Real Estate Agents to make “KYC” (Know Your Customer) a precondition in dealing with customers so as to be free of liabilities in case of any eventuality.

ADVERTISEMENT

He also called on members of the association to ensure compliance with the regulation requiring registration and certification of their businesses by the Special Control Unit against Money Laundering, SCUML and urged them to report cases of suspicious transactions to the appropriate agencies as required by the law.

Earlier, ERCAAN’s chairman in Kwara State, Mr Adewole Onibokun, had commended the EFCC for its giant strides, particularly the efforts of the Ilorin Zonal Command in fighting corruption and expressed the willingness of his members to assist the commission in fighting money laundering and other financial crimes in the real estate sector.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: efccReal Estate
SendShare10170Tweet6356Share
ADVERTISEMENT
Previous Post

Kogi Guber: Transport Unions Declare Support For Ododo

Next Post

FCTA Inaugurates Committee To Curb Building Collapse

Abdullahi Olesin

Abdullahi Olesin

You May Like

JUST-IN: NRC Suspends Abuja-Kaduna Train Services After Derailment
News

JUST-IN: NRC Suspends Abuja-Kaduna Train Services After Derailment

2025/08/26
Fire Razes 5 House In Cross River Community
News

Fire Razes 5 House In Cross River Community

2025/08/26
Analyst Hails Senate Over Passage Of Tax Reform Bills
News

JUST-IN: Tinubu Slams Temporary Ban On Raw Shea Export

2025/08/26
UNILORIN Lecturers Stage Protest, Demand Implementation Of 2009 Agreement 
News

UNILORIN Lecturers Stage Protest, Demand Implementation Of 2009 Agreement 

2025/08/26
PICTORIAL: NEMA Boss Leads Rescue Mission To Site Of Abuja–Kaduna Train Derailment
News

PICTORIAL: NEMA Boss Leads Rescue Mission To Site Of Abuja–Kaduna Train Derailment

2025/08/26
LEADERSHIP Quinquennial Award For Governance and Infrastructure 2024: Barr. Nyesom Ezenwo Wike, FCT Minister
News

FCTA Promotes 49 Deputy Directors

2025/08/26
Leadership Conference advertisement

LATEST

C’Wealth Weightlifting: Omolola Wins Team Nigeria’s First Gold In India

JUST-IN: NRC Suspends Abuja-Kaduna Train Services After Derailment

Fire Razes 5 House In Cross River Community

Bode George Hails PDP Zoning, Says Party Ended ‘Existential Imbecility’

JUST-IN: Tinubu Slams Temporary Ban On Raw Shea Export

UNILORIN Lecturers Stage Protest, Demand Implementation Of 2009 Agreement 

PICTORIAL: NEMA Boss Leads Rescue Mission To Site Of Abuja–Kaduna Train Derailment

FCTA Promotes 49 Deputy Directors

Derailed Train: Kaduna Gov Orders Evacuation, Treatment Of Victims

Edo Hospital Denies Complicity In Death Of Twin Babies

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.