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.

John Obuh     Adesina Simon Sodiya     Hakeem Idris     International Public Sector Accounting Standards     Kwara Polytechnic     Okin Biscuit     Harrison Osauwagboe     Muslim Cementary     NaAllah     Ilorin Muslim Community     Olukotun Of Ikotun     Ebun-Olu Adegboruwa     Oju Ekun Sarumi     Jelili Yusuf     Osinbajo     Jani Ibrahim     KSIRS     Dasuki Belgore     Abdulganiyu Oladosu     Halimat Yusuf     Ijagbo     Inside Kwara     Buari Edun     Ridwan Agboola     Kayode Ogunlowo     Akeem Olatunji     Alimi Abdulrazaq     Tunji Folami     Boko Haram     Talaka Parapo     Mohammed Yahaya Barki     Yunus Lawal     Quran     Lanwa     Lafiagi     Afolayan     Wahab Abayawo     Tunji Arosanyin     Monkey Pox     Olokoba     Elections     Ilorin Emirate Stakeholders Forum     Quranic Recitation Competition     Isiaka Gold     Temi Kolawole     2023 Elections     Ishola Balogun Fulani     Timothy Akangbe     Deji Ajani     Umar Ayinla Saro     Oke-Ogun     Lateef Alagbonsi     Mohammed Halidu     Ilorin Amusement Park     Danladi     Usman Rifun     Sulyman Age AbdulKareem     Mope Dasuki Belgore     Isiaka Yusuf     Freshvine Nigeria Limited     Arandun     Ilorin Innovation Hub     School Of Nursing     Timothy Olatunde Fadipe     Akume     Emir Of Lafiagi     Raji Ayodele Kamaldeen     Malete     Ilota     Yusuf Lanre Badmas     Umar Yakubu Jaja     Yakubu Dogara     Suraj Tunji Oyewale     Yahaya Oloriegbe     Salman Jawondo     Kwara State Pension Board     March 18    

Cloud Tag: What's trending

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

Kwara United     Abubakar Usman Jos     Ahmad Olanrewaju Belgore     Olatunji Bamgbola     Saheed Alakoso     Isiaka Saka Opobiyi     Air Peace     EndSARS     State Bureau Of Internal Revenue     Simon Sayomi     Elerinjare     Abdullah Janet Amudat     Bilikisu Oniyangi     Ike Ekweremadu     Umar Sanda Yusuf     Abdulrasaq Alaro     Abdulkadir Orire     Isiaka AbdulRazaq     Moro     Elections     Abdulfatah Ahmed     Ayobami Seriki     Alanamu     Emir Of Shonga     Siddiq Adebayo Idowu Salawu     Millennium Development Goals     John Dara     Charles Ibitoye     Bola Ahmed Tinubu     COVID     Abdulwahab Oba     Oyedun Juliana Funke     Kwara Poly     Muslim Cementary     Owode Market     Kwara Hotel     General Tunde Idiagbon International Airport Ilorin     Onilorin     Siraj Oyewale     Funke Adedoyin     T And K FOODS     Abdulmalik Bashir Mopelola Risikatullahi     Amuda Bembe     KWASSIP     Amina Susa\'a De Ahmed     Share     Kwara State University Of Education     Playing Host     Hakeem Idris     Sanitation Exercise     Muhammad Mustapha Suleiman     Yahaya Abdulkareem     Odolaye Aremu     Jide Oyinloye     Bamidele Adegoke Oladimeji     Kisra     College Of Health     Ishaq Salman     Seed Technologies     Towobola Abdulrahman Toyin     Bashir Badawi     Ayobola Ipinlaiye     Aliyu Alhassan     Haleeman Salman     Muhammad Sirajo Aliyu     Oyin-Zubair     Ilorin Innovation Hub     Muhammed Danjuma     Arik     Muideen Olaniyi Alalade     SWAN     Kola Ologbondiyan     Marafan Shonga     Ayinde Oki     Popo-Igbonna     Ayo Opadokun     Harrison Osauwagboe