How EFCC’s Latest Warning to Nigerian Banks Will Affect Customers
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The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa has urged Nigerian banks to ask potential clients about their source of income before opening accounts for them
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The EFCC boss gave this advice to banks on Tuesday when he received the Association of Chief Audit Executives of Banks in Nigeria, (ACAEBIN) and Chairman Yinka Tiamiyu
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Bawa warned that starting from September 1, 2021, the anti-graft agency will begin holding banks liable for complicity in fraud
The Chairman of the Economic and Financial Crimes Commission, (EFCC) has taken the war against criminals to another level by warning banks to desist from assisting criminals.
The chairman of the commission Abdulrasheed Bawa has urged banks to investigate the source of income of potential clients before opening an account for them.
Bawa made this statement in Abuja when he received the Association of Chief Audit Executives of Banks in Nigeria, (ACAEBIN) and the chairman of the institution Yinka Tiamiyu.
He stated that starting from September 1 the commission will start holding banks liable for their complicity in fraud.
The chairman of the anti-graft agency warned banks to take transparency serious to avoid being sanctioned along with criminals.
Bawa however revealed that the agency will be willing to partner with ACAEBIN in tackling money crimes in the banking sector.
“I will like to urge you to know your customers, know the kind of businesses they do before opening an account for them because some customers will open an account within a space of two months a huge sum of money is found in the account, So there is need for you to try and query this information including their linked accounts, ”.
Read also: How the FBI and EFCC Arrested 167 Nigerian Yahoo Boys
The chairman of ACAEBIN Tiamiyu also pledged the support of his organisation, stating that they seek a partnership that will help fight financial crimes.
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