EFCC Warns Real Estate Operators On Fraudulent Use Of Premises

The Economic and Financial Crimes Commission, EFCC, has warned real estate operators, landlords and property managers in the country to desist from renting out, leasing or selling properties to individuals that do not comply with the “Know Your Customer”, KYC policy.

This warning was given in Ibadan on July 30, 2022 by the Ibadan Zonal Commander of the EFCC, Assistant Commander of the EFCC, ACE Kanu Idagu while addressing a Town Hall meeting with members of the Kolapo Ishola Government Reservation Area, GRA, Residents Association, held at Rolat Event Centre, Akobo, Ibadan, Oyo State.

According to him, “one major regulatory concept that was set up by the government to uphold and maintain the standard of conducting business and sanitizing the economy is the concept of KYC and it simply means Know Your Customer. This has become a regulatory mandate, which requirement is not only limited to the private sector but to all sectors of the Nigerian economy with the primary objective of mitigating fraud”.

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