CISLAC alleges corrupt Nigerians use real estate firms for money laundering

The Civil Society Legislative Advocacy Centre, (CISLAC) has alleged that some corrupt Nigerians use real estate firms for money laundering.

The organisation also alleged that there had been a consolidation of dirty deals to conceal illicit funds in the real estate sector.

The Executive Director of CISLAC, Auwal Musa Rafsanjani, raised the alarm in Abuja during the public presentation of a report titled ‘Nigeria’s dirty money and real estate: How money laundering through real estate impacts Nigeria’s fight against corruption’.

Rafsanjani, said, this is one of their activities under the anti-money laundering programme which has been identified as one of their priorities going by the volume of resources that Nigeria loses through money laundering and illicit financial flows.

“The project, which is a relatively new terrain for us, has brought us to work with multi-stakeholders in exploring aspects of corruption, monitor trends and typologies and critically analyse the dealings of the private sector and how it affects the fight against the laundering of dirty money.

“This report is one of the many successes we have achieved under the project and we hope that the revelations and recommendations therein will contribute to your work and create avenues for continued advocacy and quest for good governance”, CISLAC said.

CISLAC opined that many posh properties litter major cities in Nigeria, without anybody occupying them and advised that it was high time government device a means of collecting property taxes.