The Economic and Financial Crimes Commission (EFCC) has clarified that the agency does not issue arrest warrants for individuals who default on loans, contrary to claims made by certain loan companies.
In an official statement posted on the EFCC’s official account on Friday, the Commission affirmed that it does not issue arrest warrants, as suggested by these companies. The EFCC highlighted that some of these companies send documents containing lists of individuals purportedly on the Commission’s arrest list to intimidate loan defaulters into settling their debts.
Rejecting these assertions, the Commission cautioned such companies to refrain from engaging in these “fraudulent practices,” emphasizing that the EFCC is ready to take legal action against them if necessary.
The statement titled, ‘EFCC Does not Issue Arrest Warrant on Loan Defaulters’, read, “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.”
