The Economic and Financial Crimes Commission (EFCC) has raised concerns about the involvement of certain commercial bank officials in money-related fraud within Nigeria. The EFCC has also issued a warning, urging commercial banks to refrain from shielding customers suspected of engaging in financial malpractices.
During a meeting with senior compliance staff from Kwara and Kogi states in Ilorin, Michael Nzekwe, the EFCC Zonal Commander, revealed that these bank officials occupy crucial positions and play a critical role in the fight against economic and financial crimes.
The purpose of the meeting was to update banks on the latest trends in cybercrime and explore opportunities for enhanced collaboration as stakeholders in the battle against financial crimes.
Nzekwe emphasized the importance of financial institutions adhering strictly to banking rules and regulations, while diligently carrying out their responsibilities.
He asserted, "There is no major fraud, particularly money laundering, that occurs without the involvement of bank officials."
According to a report by the EFCC, a total of 3,785 convictions were secured in 2022, indicating the agency's dedication to prosecuting individuals involved in financial crimes.
The EFCC's statement serves as a reminder that the battle against economic and financial crimes requires the cooperation and vigilance of all stakeholders, including commercial banks. By maintaining integrity, complying with regulations, and actively cooperating with law enforcement agencies, financial institutions can play a vital role in combating fraud and fostering a more secure financial system in Nigeria.
