Three serving governors, others are under investigation by the EFCC.

Ibekimi Oriamaja Reports

Following the Central Bank of Nigeria’s (CBN) decision to redesign some Naira notes, the Economic and Financial Crimes Commission (EFCC) has stated that it is investigating at least three serving State governors who have hoarded billions of Naira in their homes.

The EFCC Chairman, Abdulrasheed Bawa, revealed this in an interview with reporters on Thursday, saying the governors intend to pay their salaries in cash.

In the interview, the EFCC Chairman stated that the commission’s raid on Bureau De Change operators would continue until the old Naira notes were depleted.

He urged Nigerians to support the system for the sake of all, emphasizing that any cash transaction in excess of five million Naira is illegal.

“Already, some state governors who have some of this cash stashed in various houses and the rest are attempting to pay salaries in cash in their respective states.”

“I’m not sure how they intend to accomplish this, but we must prevent them from doing so.” “Well, we’re working; they haven’t paid us in cash yet, but it’s a serious situation,” he explained.

According to Bawa, the governors’ decision to launder money by paying salaries in cash violates Section 2 of the Money Laundering Prohibition Act.