Elections 2019: Alarming amount of foreign currency flooding the country - Buhari

Elections 2019: Alarming amount of foreign currency flooding the country - Buhari

- The EFCC has been commended by President Buhari for successfully tracking millions of US dollars intended to use for influencing the coming elections

- President Buhari said some politicians are flouting money laundering regulations in their desperate bid to capture political power

- According to the president, his administration is determined to wage a relentless war against money laundering and terrorist financing

President Muhammadu Buhari on Wednesday, February 20, expressed surprise at the huge amount of foreign currency flooding the country, intended to influence the forthcoming general elections.

In a statement by the presidential spokesman, Garba Shehu, President Buhari accused some politicians of flouting money laundering regulations in their desperate bid to capture political power.

The president who made the accusation during the Federal Executive Council, meeting, however, commended the Economic and Financial Crimes Commission (EFCC) for successfully tracking the money in “millions of United States dollars.”

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Buhari reassured the nation of his administration’s determination to wage a relentless war against money laundering and terrorist financing.

He also appealed to Nigerians, especially politicians to place the interest of the country above all others, as they troop out to cast their votes in the coming elections.

Meanwhile, Legit.ng had reported that a business partner and lawyer-friend to Atiku Abubakar, the presidential candidate of the PDP, was reportedly arrested and detained by operatives of the EFCC.

Uyi Giwa-Osagie is said to be suspected of laundering about $4 million, described by the EFCC as “suspicious election cash”.

It was learnt that the action of the commission followed a suspicious transaction by a bureau de change operator.

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In a related development, the PDP accused the presidency of releasing over N6 billion “looted from federal funds” to the All Progressives Congress (APC) National Assembly candidates to rig the rescheduled elections.

The opposition further alleged that the “looted funds” are to be used by the APC to dress fake security agents, arm thugs and bribe compromised INEC officials to manipulate the elections in the various senatorial and federal constituencies across the country.

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Source: Legit

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