The Special Control Unit Against Money Laundering (SCUML) of the Economic and Financial Crimes Commission (EFCC), Gombe Zonal Office, has arrested two major car dealers in Yola for alleged money laundering.
Gombe zonal office of the commission comprises Bauchi, Taraba and Adamawa states.
Mr Bello Bajoga, EFCC Head of Public Affairs Department, Gombe Zonal office, made this known in Yola on Thursday.
Bajoga said the suspects Alhaji Abba Galadima and Alhaji Mansur Abdurahman were the owners of HAMABB MOTORS NIG. LTD on Atiku Abubakar Road and Halal Synergy Limited on Galadima Aminu Way, all in Jimeta,Yola, respectively.
“The duo were arrested for non-compliance with the Provisions of Money Laundering (Prohibition) Act, 2011 (as amended)
“And the regulations of Designated Non Financial Institution (Regulatory Manual) 2013 that regulates the activities of Designated Non financial Institutions DNFIS,” Bajoga said.
He said that several efforts were made by the SCUML officers to serve the companies with letters of notification for registration in June, 2016.
He said a letters for inspection and sensitisation were again served on the duo in July and November 2017 but they did not comply.
He added that another observation letter was equally served on the companies sometime in 2017 to comply with the law and it also yielded no results.
“The Companies actions violated the provisions of Section 3; Section 5 (a) & (b), Section 9 and 10 of Money Laundering ( prohibition) Act, 2011 (as amended), as clearly stated in the observation letters issued to them,” Bajoga added.
He noted that their non-compliance resulted to non registration with SCUML, non reporting of transactions and accepting cash payment exceeding the limit provided by law.