The Economic and Financial Crimes Commission (EFCC) has clarified that it does not issue arrest warrants for individuals who default on loans, as some loan companies have allegedly claimed.
News About Nigeria gathered that in a statement released on the Commission’s official X page, formerly known as Twitter, on Friday afternoon, EFCC emphasised that they do not issue arrest warrants for loan defaulters.
According to EFCC, some loan companies have been sending out documents containing lists of individuals purportedly on the Commission’s arrest list. These documents are being used to intimidate and pressure loan defaulters into repaying their loans.
The Commission firmly denied any association with these claims and warned loan companies against engaging in such fraudulent practices.
EFCC further threatened to stop at nothing to bring to book any company that refuses to comply with its directive.
The statement with the title ‘EFCC Does not Issue Arrest Warrant on Loan Defaulters’ reads; “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 are falsely linking 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.”
