25 C
Thursday, January 21, 2021
- Advertisement -

EFCC Asks Banks to Join Anti-Graft Fight


2020: A Year Like no Other By Dakuku Peterside

The year 2020 was supposed to be a great year. It was another Leap Year – the famed Olympic Games year when...

The Time to Restructure is Now – Bola Tinubu

Being with you at this special event today, I am visited by two competing emotions. I continue to feel a profound sense...

Africa and the COVID-19 Vaccine – By Dakuku Peterside

The year 2020 will forever be synonymous with Covid-19, a pandemic that brought the world to her knees. For the first time...

Buhari is Repressing Human Rights and Getting Away With It – By Kolawole Olaniyan

President Muhammadu Buhari is failing to live up to his promises to ensure respect for human rights, obey the rule of law,...

The Economic and Financial Crimes Commission (EFCC), has called on financial institutions in the country to strengthen their collaboration with the Commission towards stemming the rise of corruption and financial crimes.

The Uyo Zonal Head of the EFCC, Mr Akpa Uchenna Edeh said this while holding a meeting with bank compliance officers on Tuesday, August 18, 2020, in Uyo, Akwa Ibom.

Mr Edeh said: “Knowing that the fight against corruption is everybody’s business, the Commission has recognized the fact that banks are partners in this fight.”

He added that the end benefit of every economic or financial crime was monetary and called on banks to brace up for more active roles in the fight against corruption. He disclosed that the EFCC still encounters difficulties and delays from the banks in the areas of response to its letters; post-no-debit order; reporting of suspicious transactions on accounts; shifting of responsibilities and on failure to comply with the ‘Know Your Customer directive.

“It is important to note that we do not write letters because we just want to. We work in accordance with the speed at which fraudster may move out funds, and we desire that we receive response from banks with same speed”, he said.

He cautioned account officers against developing affection for their customers, to the extent of alerting them that they are under investigation by the EFCC or that their accounts have been flagged. “In as much as you have to protect the bank, don’t do so at the detriment of the nation. Do not protect the bank and destroy the nation,” Mr Edeh said.

- Advertisement -
- Advertisement -

Business Profiles

Ngozi Edozien

Ngozi Edozien is the founder and Managing Director of Invivo Partners Limited. She has over 20 years’ experience in finance/private equity, general...

Sanyade Okoli

Sanyade Okoli is Chief Executive Officer at Alpha African Advisory. She has over 21 years of financial advisory, private equity, corporate, commercial...

Samuel Nwanze

Samuel Nwanze is a director of Transcorp Power. He holds an MSc. degree in Finance and Management from Cranfield University in the...

Olukemi Adeniji

Ms Adeniji has a law degree and a Masters in International Law and Diplomacy (M.I.L.D) from the University of Lagos. She has...

Chikezie Nwosu

Chikezie Nwosu is an experienced senior executive with over 29 years local and international experience in the oil & gas industry vis-a-viz...