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.

20 Billion Bond     Alaro     Saheed Akinwumi     Olatunde Olukoya     Oluranti Idowu     Adamu Attah     Medview Airlines     Ganmo     Hausa     Yusuf Ibitokun Sherifat     Eleja Taiwo Banu     Mahmud Ayinla Giwa     Abubakar Suleiman     Musa Aibinu     Muhammed Taofeeq Abdulrazaq     David Oyerinola Adedunmoye     Volunteers Of Ilorin Community And The Emirate     Mohammed Kamaludeen     Afonja     Bola Magaji     Ayekale     Suleiman Ajadi     IHS     Bolakale Ayo     Monthly Sanitation Exercise     Revenue Court     Kwara North     Oba-Solagberu     Colleges Of Education Academic Staff Union     Monthly Sanitation     Olaiya Zuberu     Alapado     Laolu Saraki     Abdulquowiyu Olododo     Iyabo Dupe Adekeye     Ridhwanullah Al-Ilory     Okeose Christian Cementary     Abdulkareem Alabi     Baboko Primary School     Aro Yahaya     Funmilayo Oniwa     Jimoh Bashir     Abdulfatai Salman Baakini     Sarafadeen Kayode Akorede     Ishola Moses Abiodun     Olusin Of Ijara Isin     Vasolar-Kwara Company Ltd     Gbemi Saraki     Rapheal Ashaolu     Saka Keji     BECE     GANZY     James Ayeni     All Peoples Party     Kayode Laro     Yoonus Lawal     Oniyangi Kunle Sulaiman     Ahmed Ayinla Jimoh     Aliyu Adebayo     Rihanat Ajia     Senior Ibrahim Suleiman     Ifelodun     Aisha Buhari     Erubu Oba Zubair     Kumbi Titilope     Saheed Popoola     Budo-Egba     Fatima Abolore Jimoh     Isaac Aderemi Kolawole     NAWOJ     Femi Ogunsola     Elerin Of Adanla     New Model Police Station     Bank Of Industry     Abdullahi AbdulMajeed     Mutawalle     Moremi High School    

Cloud Tag: What's trending

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

Ibrahim Bio     Dauda Adeniran Adeshola     Emmanuel Bello     Olomu     Galland Marcias     Ajibola Ademola Julius     Lateef Fagbemi     Monthly Sanitation Exercise     Eleja Taiwo Banu     Mustapha Olanipekun     Gbugbu International Market     GAMA     Oyelere Oyinloye     Ibrahim Abdulqadir Abikan     Ibrahim Oloriegbe     Sodiya     Irepodun     Sai Kayi     Monkey Pox     Ilorin West/Asa Federal Constituency     Laboratory-to-Product     Bolakale Ayo     Micheal Imoudu     Student Learning Support Helpline     Segun Ogunsola     Ibrahim Issa Jetti     MAI Akande     Adamu B. Yaqubu     Ojuekun Sarumi     Lawan     Adedeji Onimago     Muazam Nayaya     Khairat Gwadabe     General Hospital, Offa     Mary Arinde     Gobir     Fatimat Saliu     Bello Taoheed Abubakar     Ilorin Muslim Community     Adolescent Girls Initiative For Learning And Empowerment     Kupchi Hosea Maxwell     Rapheal Ashaolu     KWASSIP     Abdulrahman Abdulrazak     Mufutau Gbadamosi Esuwoye     Bola Ahmed Tinubu     Roheemat Hammed     Logun     Ganmo Power Sub-Station     Mubarak Oladosu     Abdulrazaq Aiyelabegan     AGF Abdulrazaq     Kwara State Football Association     Funmilayo Oniwa     Federal Polytechnic Offa     Kwara Volleyball Association     Folajimi Aleshinloye     Abdulganiyu Oladosu     Paul Olawoore     AbdulRahman Saad     Centre For Digital Economy     REO CAKES     Saheed Alakoso     Saliu Shola Taofeek     IYA ALFA NLA     Afonja Descendants Union     Jawondo     Maigida Soludero Transit     Abatemi Usman     CKNG     Muritala Awodun     Nurudeen Mohammed     Gbemisola Oguntimehin     Iyeru Grammar School     Ajase-Ipo     Olabode George Towoju     Ilorin Central Mosque