Alleged money laundering: EFCC orders bank to dishonour NDDC’s payment instruction

The Economic and Financial Crimes Commission (EFCC) has instructed a commercial bank not to honour Niger Delta Development Commission (NDDC’s) request for payments over alleged money laundering.

In a letter addressed to the Managing Director of one the bank and obtained by The Guardian, the EFCC said funds were being diverted from NDDC’s accounts in what it suspects to be a case of fraud.

The letter marked CR.3000/EFCC/LS/ISOS/TA/NDDC2/Vol. 4/110 the commission said it was investigating a case of fraud, diversion of funds and money laundering in which the NDDC featured. EFCC explained that preliminary investigation revealed that funds were being diverted from NDDC’s account domiciled with the Central Bank of Nigeria (CBN) into commercial banks.

“In view of the above you are requested to henceforth reject any payment instruction from NDDC’s account to accounts of corporate bodies domiciled in your bank until further notice to forestall further diversion of funds,” the letter reads. The EFCC also disclosed that its request to the bank was made in pursuant of Section 38 and 34 of EFCC (Establishment) Act 2004, section 21 and six of the Money Laundering Prohibition Act 2011.

When contacted, Head, Corporate Affairs of NDDC, Charles Odili, requested that questions should be sent to him via text message, which The Guardian did, but he did not respond at press time. Also, Nancy Stephens, media aide to the Acting Managing Director of the NDDC, Professor Nelson Brambaifa, said her boss was away and will be back by next week. NewsExpress