After the Central Bank of Nigeria (CBN) decided to change the look of some Naira notes, the Economic and Financial Crimes Commission (EFCC) said it is keeping an eye on at least three State governors who hid billions of Naira in their homes.
In an interview with Daily Trust on Thursday, the head of the EFCC, Abdulrasheed Bawa, said that the governors plan to pay their salaries in cash.
In the interview, the head of the EFCC said that the commission would keep raiding Bureau De Changes until the old Naira bills stopped being used.
He asked Nigerians to support the system for the good of everyone, and he said that any cash transaction over 5 million Naira is illegal.
“Some governors of states already have some of this cash hidden in different places, and the rest are trying to pay salaries in cash in their states.
“I don’t know how they want to make that happen, but we have to stop them. Well, we’re working, but they haven’t paid us in cash yet, and it’s a serious matter,”
Bawa says that it is against section 2 of the Money Laundering Prohibition Act for the governors to pay salaries in cash in order to hide money.