EFCC Calls For Tighter Secrecy Between Banks And Their Customers Regarding Their Investigations.

The country's bank compliance officers have received a call from the Economic and Financial Crimes Commission (EFCC) asking them to stop disclosing to their clients about the EFCC's investigative efforts.

This statement was made by the commission's executive chairman, Ola Olukoyede, in a meeting with bank compliance officers in the capital of Oyo state, Ibadan.

Olukoyede stated that the commission is aware that certain compliance officers are providing information to customers. He made this statement through ACE I Hauwa Garba Ringim, Acting Zonal Director of the EFCC's Ibadan Zonal Command.

He bemoaned the unhealthy backing that Nigerian banks give scammers.

The head of the commission emphasized that the commission is facing many difficulties and worries as a result of this act.

He claims that the EFCC is aware that compliance officers inform their clients about "letters of investigation activities" that the EFCC has sent to banks.

He maintained that these kinds of actions typically compromise financial crime investigations and postpone the filing of court proceedings pertaining to corruption.

He bemoaned the unhealthy backing that Nigerian banks give to fraudsters, emphasizing that the Commission is facing significant difficulties and worries as a result.

In order to speed the investigation process and bring the case to a logical conclusion, the head of the EFCC further advised the agency to always reply to letters received from the Commission with certified true copies, including instruments of transactions of beneficiaries or sources.

Speaking further, Olukoyede insisted that illicit transactions and naira-denominated trading with Point-of-sale (POS) operators had to end.

“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.”