New Telegraph

EFFC: No Money Laundering Without Connivance Of Bank Officials

The Economic and Financial Crimes Commission, (EFCC) has said that some commercial bank officials are complicit in Nigeria’s money-related fraud.

New Telegraph reports that the anti-graft agency warned commercial banks against shielding customers suspected of financial malpractices.

The Zonal Commander of EFCC, Michael Nzekwe gave the warning on Friday during a meeting held at Ilorin with the senior compliance staff from Kwara and Kogi States.

He mentioned that the officials hold sensitive positions and are critical to the fight against economic and financial crimes.

Nzekwe added in the meeting was to educate banks on new trends in cybercrime and seek areas of further collaboration as stakeholders in the battle.

The Zonal Commander also advised financial institutions to adhere strictly to bank rules and regulations and diligently discharge their duties.

“There is no major fraud, especially money laundering, that is ever committed without the connivance of bank officials,” he stated.

According to a report by the Commission, it made a total of 3785 convictions in 2022.

Read Previous

Multi-Talented Act, TerryTheVoice Teases New Music

Read Next

Reactions As Fan Rocks Ruger On Stage

Leave a Reply

Your email address will not be published. Required fields are marked *