The Economic and Financial Crimes Commission (EFCC) has vehemently denied allegations of issuing arrest warrants for loan defaulters, cautioning loan companies against such practices.Â
The official statement, released on Friday via the EFCC’s official account, aimed to clarify the agency’s stance and expose certain loan companies’ purportedly fraudulent tactics.
According to the EFCC, a number of loan companies have been circulating documents that falsely suggest the agency’s involvement in the arrest of loan defaulters. These documents, with titles like ‘Arrest Warrant Processing’ and ‘Loan Fraud Escalation,’ are being employed as scare tactics to intimidate individuals into repaying their loans.
The EFCC, however, has categorically refuted any such involvement, emphasizing that it does not issue arrest warrants for loan defaulters. The agency also urged the public to be cautious of such misleading claims and tactics employed by these companies.
In a stern warning to these loan companies, the statement read, “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.”
