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EFCC warns loan sharks against issuing fake arrest warrants


The Economic and Financial Crimes Commission has warned loan companies against issuing fake arrest warrants to loan defaulters.

In a statement issued by the anti-graft agency on Friday titled, ‘EFCC Does not Issue Arrest Warrant on Loan Defaulters’. on Friday, the EFCC stated that it does not issue arrest warrants for loan defaulters.

The statement said that some loan companies have been sending out documents with lists of those on the Commission’s alleged arrest list to scare defaulters into paying their loans.

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The EFCC warned such companies to desist from such “fraudulent engagements” as the Commission “may stop at nothing to bring them to book.”

The attention of the Economic and Financial Crimes Commission, EFCC, has been drawn to some contrived documents on ‘Arrest Warrant Processing,’ ‘Loan Fraud Escalation,’ and others being circulated by some loan companies, purportedly issued by the Commission against loan defaulters.

Authors of such documents falsely link their threats against loan defaulters to the Commission.

“The public is enjoined to be wary of such claims. As a rule, the EFCC does not issue arrest warrants on loan defaulters.

“Loan companies linking the Commission to their loan recovery efforts should desist from such fraudulent engagements as the EFCC may stop at nothing to bring them to book,” the statement partly read

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The EFCC urged the public to report any such fraudulent activities to the Commission.