EFCC indicts banks in Kwara over theft, money laundering

Date: 2023-05-12

The Zonal Commander of the Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC, Mr Michael Nzekwe, has indicted banks in Kwara state over bank thefts and money laundering, saying, “there is no major fraud especially money laundering that is ever committed without the connivance of bank officials.”

Nzekwe said this during an interactive session with compliance officers of banks at the commission's office in Ilorin.

The meeting, which had in attendance participants from Kwara and Kogi states, was aimed at building stronger relationship between complaints officers in banks and the commission in the fight against corruption.

He identified the role of banks compliance officers as key to the fight against economic and financial crimes, while urging them to be diligent and avoid being complicit in fraudulent financial practices in the banking sector.

He charged the bankers to adhere strictly to bank rules, regulations and be diligent in the discharge of their duties.
On the issue of Know Your Customer, KYC, and Know Your Customer's Business, KYCB, the Zonal Commander tasked the bankers to take the two requirements seriously as it would help to keep fraudulent customers on the radar.

“We advise that as bankers, you carry out due diligence and Know Your Customers, KYC. By doing this, you save yourselves from trouble and make our job easier,” he said.

The zonal commander also reiterated the need for bankers and EFCC operatives to be on the same page as new trends in cybercrimes continue to unfold.

He charged the bankers to share necessary information and report suspicious transactions to the commission.
He appreciated their presence at the meeting and expressed hope that the engagement would birth a more cordial working relationship between the banks and the EFCC.

Participants stressed the need for regular meetings in order to build a stronger tie between the banks and the EFCC that would engender compliance culture in the Nigerian financial sector.

According to them, the spate of fraud perpetrated through financial institutions ranging from cybercrimes, money laundering and other financial crimes has led to an unprecedented focus on the depth and effectiveness of compliance and regulation.

The participants assured that they would offer the commission the necessary information that could assist its fight against economic and financial crimes, especially illicit transactions in the banking sector.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Dan Iya     Park     Gbenga Olawepo     Shero     Sobi Specialist Hospital     Kwara Teaching Service Commission     Jare Olatundun     Yahya Mohammed     Bayo Mohammed Onimode     Economic And Financial Crimes Commission     Halimat Yusuf     Basit Olatunji     College Of Education     Marafan Shonga     Lotus Bank     Ishola Moses Abiodun     Ajia-Bako     Joshua Adeyemi Adimula     Mustapha Akanbi     11th Galadima     Local Government     Code Of Conduct     Kwara Liberation Group     Bello Taoheed Abubakar     Abdulmumini Sanni Jawondo     Islamic Development Bank     Tinubu Legacy Forum     Yakub Ali-Agan     Ibraheem Adeola Katibi     Muritala Olarewaju     Aishatu Ahmed Gobir     Adolescent Girls Initiative For Learning And Empowerment     Oluwatoyin Lukman     Salaudeen Oyewale     Segun Abifarin     Tanke Flyover Bridge     Jide Oyinloye     Kwara 2015     Sambo Murtala     Olusegun Adeniyi     Kayode Alabi     Yusuf Mubarak     LEAH Charity Foundation     Folashade Omoniyi     Lanwa     Sam Okaula     Hausa     NFAI     Saheed Alakoso     Haruna Olawale Sulaiman     Balogun Ajikobi     Federal College Of Education (Special), Afon     Curfew     Abdulkadri Ahmad Alaiye     Katibi Ibraheem Adeola     Toyin Sanusi     Wahab Issa     Mohammed Lawal Bagega     Saad Omo Iya     Kwara State Branch Of The National Library     Ibrahim Bio     Third Estate     IESA     Bahago     Innocent Okoye     Kolawole Bashirat     Otuka     Gobirawa     David Oyepinola Adedumoye     Rotimi Samuel Olujide     Ibrahim Abikan     Shonga Farm Project     Sheikh Ridhwanullah El-ilory     General Hospital, Offa     Tafida     Kumbi Titilope     Onilorin    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Doyin Agbamu     Muslim Cementary     Jimba Babatunde     Lateef Alagbonsi     Lanre Issa-Onilu     Ajibike Katibi     Rafiu Ibrahim     Federal Road Maintenance Agency     Ilesha Gwanara Road     Esinrogunjo     2017 Budget     Ayobami Akanbi     Shuaib Abdulkadir     Raliat Islamic Foundation     Maigida     Oba Abu     Segun Ogunsola     Ayedun     NURTW     Belgore     Lai Gobir     PAACO-PCL Consortium     Vasolar-Kwara Company Ltd     Okanlawon Taiwo     Fatai Garuba Labaka     Unilorin     National Broadcasting Commission     Baba Isale     Isin     Jimoh Bashir     Imam Gambari     Harrison Osauwagboe     Onilorin     Mustapha Akanbi     March 18     Abubakar Ndakene     Jawondo     Azeez Bello     Salihu Ajia     ITP     Habeeb Abdullahi Al-Ilory     Rapheal Ashaolu     Ajuloopin     Share     Saadu Gbogbo Iwe     Sardauna Of Ilorin     Gobir Organization Foundation     Ajike People Support Centre     Wahab Femi Agbaje     Babatunde Ishola Babaita     Smart School     Ganiyu Abolarin     Ifelodun     Yusuf Ali     Olumide Daniel Ibitoye     ANCOPPS     NNPP     Sobi     Patience Jonathan     Kunle Suleiman     Ahmad Ali     Sarakite     Hussein Oloyede     Busari Alabi Alausa     Chemiroy Nigeria Limited     Photo News     Oluwole Dupe     Ibrahim Taiwo Road     KWATMA     Jumoke Gafar     Kolo     Oke-Kura     Towoju     Muslim Stakeholders Of Kwara State     Ibrahim Labaika     Bio Ibrahim     Oasis Muslim Care Foundation