BPE, EFCC to block money laundry in privatization exercise

The Bureau of Public Enterprises (BPE) is to collaborate with the Economic and Financial Crimes Commission (EFFC) “with a view to blocking laundered money from the privatization program.” Ibrahim Mustafa Magu, the executive chairman of the EFFC, said “we will be willing to support you against any threat that will discourage investors from coming into the country, and in order to achieve this I think we need to establish a common desk for a seamless synergy.” He “assured that EFCC was ready to carry out due diligence on any entity that showed interest in the purchase of government assets in order to prevent corrupt elements from using the privatization process as a means of laundering illegally acquired funds.”