Hon. Blessing Onyeche Onuh and EFCC Chairman Abdulrasheed Bawa
The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has urged the House of Representatives to insist on the enforcement of regulations by relevant authorities in the real estate sector.
He said this will help to check sharp practices and money laundering by operators in the sector.
Bawa said this when he received members of the House of Representatives Adhoc Committee Investigating Real Estate Developers, led by the Chairman, Honourable Blessing Onyeche Onuh, at the headquarters of the Commission in Jabi, Abuja on Wednesday.
He said, “Real estate is the highest avenue through which corrupt Nigerians launder proceeds of crime. When I heard of your committee, I thought this was an opportunity to work with the representatives of the people, to discuss how we can deal with this issue.”
He urged the committee to prevail on those charged with the responsibilities of regulating the sector, pointing out that the major challenge the sector faces is the poor enforcement of regulations.
Bawa said the anti-graft agency was determined to fight financial crimes in the sector, adding that it has restructured the Special Control Unit against Money Laundering, SCUML to enhance its performance.
He urged the lawmakers to intervene in the gaps hindering the agency from delivering an effective performance.
On her own part, Onuh said the committee was at the EFCC to seek the agency’s help in achieving its mandate.
“Mr. Chairman, we actually know the role the EFCC plays in checkmating corruption in the society, and we recognise that the Commission has value to add through the activities of this committee, hence we seek to partner with you.
“We have come to you to share our mandate and for you to guide us on the way forward in this regard,” she said.
She explained that the committee was set up by the leadership of the House of Representatives with the mandate of investigating allegations of misconduct by developers as well as working with the relevant ministries, departments and agencies, MDAs, in formulating policies and laws to check financial crimes in the sector.
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