EFCC Chair Warns Real Estate Managers Against Money Laundering

Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), issued a warning to real estate managers across Nigeria regarding their potential involvement in money laundering activities. During a courtesy visit to the Benin zonal director of the EFCC, Olukoyede stated that fraudsters are using property transactions to conceal the proceeds of crime.

He expressed grave concern over the role of real estate in laundering illicit funds and urged property managers to uphold relevant rules and regulations in their professional duties. The EFCC is committed to enforcing its statutory mandate and prosecuting those who attempt to circumvent the law.

Olukoyede also acknowledged the importance of collaboration with organizations like the Association of Real Estate Property Managers (AREAPM) to combat financial crime in the sector. Akpesiri L.

Egbonoj, the Edo State chairman of AREAPM, expressed optimism about the partnership with the EFCC to promote financial transparency and investor confidence within the real estate industry.