Diaspora Remittances: EFCC Accuses Banks Of Defrauding Nigerians Via Western Union

Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu On Wednesday claimed that some banks are defrauding Nigerians through Western Union.

Magu, who made the allegation at the Nigeria Diaspora Investment Summit (NDIS) 2019 in Abuja, said the EFCC was working with relevant agencies to bring sanity to activities of banks in Nigeria.

He stated that the anti-graft agency took the steps following complains that the banks were defrauding customers using Western Union Convenience Pay service.

The EFCC boss stressed, “Western Union services in the country are becoming a problem and we are working to bring sanity into the system because some banks are using it to defraud Nigerians.

“If you send $2,500 what might get to the receiver might be $1,000. So we are working to bring in sanity,” Magu said.

The Western Union Convenience Pay service is designed to offer fast, easy, and convenient way to send cash or check for a wide variety of participating utility companies including electric, gas, cellular, cable, phone, water, among others.

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Magu also asked Nigerians to join the agency in the fight against corruption as activities of fraudsters was robbing off on everyone.

He said, “fighting corruption is a divine mandate; we all have to fight it, all security agencies, not just the EFCC, have the mandate to fight corruption.

“We have the political will to fight corruption, this is the time to join hands to fight corruption. Like rain, corruption is beating everybody.

“There is no place you can hide stolen funds in this present administration.

“The disgrace at the airports have increased because of the activities of internet fraudsters.

“The bottom line is that we must jointly fight corruption. We have a lot of Nigerians who have done things legitimately all over the world and we want them to invest in Nigeria,” Magu said.

Magu also called on Nigerians in the diaspora to furnish the Commission with relevant information that will assist curb corruption.

He pointed out that the Commission was not out to scare Nigerians in the diaspora from investing in the country, but to boost their confidence.

Magu said working with the interpol and other international security outfits, the EFCC has been able to create an environment that guarantees the safety of investments.

“We have a case of someone who collected over N700 million under the guise of real estate from a Nigerian in diaspora that we are handling.

“We will do everything to protect your investments. We are designed to attract investors both foreign and direct investment,” he said.

Magu also said fear of the EFCC has curbed the waste of public funds and expensive lifestyles by public officers and Nigerians living abroad.

“We have been able to curb excesses of Nigerians with the fear of EFCC. It is no longer business as usual.

“Nigerians no longer hire an entire hotel and block streets in London.

“Before now, some governors will hire an entire hotel abroad with public funds and block the streets and throw parties, that no longer happens,” Magu maintained.