Stop Supporting Suspected Fraudsters – EFCC To Bank Officials

The Economic and Financial Crimes Commission (EFCC) has cautioned compliance officers of banks in Nigeria to stop disclosing the anti-graft agency’s investigative activities to their customers.

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EFCC Chairman, Ola Olukoyede, made the call on Tuesday, May 7, 2024, through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State.

In a statement released by the agency on Saturday, the EFCC said it is aware of the fact that Compliance Officers give information to their clients regarding ‘letters of investigation activities’ written to the banks from the EFCC.

The anti-graft agency boss said the act usually jeopardises the investigation exercise of financial crimes and delay corruption cases from being filed before the law court.

He decried the unhealthy support fraudsters receive from the banking sector in Nigeria, stressing that it is posing considerable challenges and concerns to the Commission.

The EFCC’s boss also urged them to always respond to letters received from the Commission with certified true copies including instruments of transactions of beneficiaries or sources, as this will expedite processes of investigation to a logical conclusion.

Furthermore, he stated that illegal dealings and trading in naira with the Point-of-Sale (PoS) operators must stop.

“What we notice and see around lately is that Nigerians can only withdraw a small amount of their money with the banks in Automated Teller Machine (ATMs) but PoS operators evidently go around with huge amounts of money gotten from the banks. This is not fair to Nigerians and we must fight it head-on,” he said.

He assured the Compliance Officers of the Commission’s support at all times, as “they remain relevant stakeholders in the fight against economic and financial crimes”.

Reacting to the fundamental issues raised at the meeting, compliance officers assured the EFCC of their unwavering support, stressing that they are committed to new dynamics on how the collaborative efforts between the Commission and the banks would be effective.

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