The Economic and Financial Crimes Commission (EFCC) has warned loan companies against using its name to threaten loan defaulters.
The anti-graft agency said it does not issue arrest warrant against loan defaulters as claimed by loan companies.
The EFCC said this in a statement issued on Friday, October 20.
“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 warrant 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 EFCC said.