Loan companies warned by EFCC against contrived issuance of arrest warrant on loan defaulters

The Economic and Financial Crimes Commission (EFCC) has cautioned against using the commission to threaten their defaulting customers, stating that the Commission does not issue warrant of arrest on loan defaulters, either solely or in collaboration with loan companies.

The Commission cautioned th public against “contrived documents on “Arrest Warrant Processing”, “Loan Fraud Escalation” and others, circulated by some loan companies, purportedly issued by the Commission against loan defaulters.”

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EFCC asserted that 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,” the Commission declared.

The EFCC statement reads:

EFCC Nigeria
@officialEFCC

EFCC Does not Issue Arrest Warrant on Loan Defaulters

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.

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