Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission EFCC, has urged banks in the country to investigate potential customers’ sources of income before opening an account for them.

Bawa gave the advice on Tuesday during a courtesy visit to the Commission’s headquarters in Abuja by the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), led by its Chairman, Yinka Tiamiyu.

The EFCC implored the bank auditors to take issues of transparency in banking operations seriously, adding that starting from September 1, 2021 it will no longer be business as usual as the commission will hold banks liable where there are established cases of institutional complicity in fraud in the sector.

He however, affirmed the commission’s willingness to partner with the association in tackling financial crimes and related challenges 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 these information including their linked accounts,” Bawa said.

Tiamiyu in his remarks, said they were in the Commission to seek improved partnership between banks and the EFCC in tacking economic and financial crimes.

He reiterated the commitment of banks as lead actors in the nation’s financial system to sanitising the system, noting that it was not in the interest of the organizations to incubate or suppress financial malfeasance.

Amplifying this point, Uduak Udoh, Vice Chairman of the Association said, “Some customers are conniving with bank staff to loot funds. We want you to look into that area, not only the banks as we are ready to give you all the cooperation you need; we want you to trust bank auditors with information sharing because we cannot support fraudulent staff as they are a threat to the organization.”

They used the opportunity of the visit to highlight issues of concern to them and their organizations, including fast-tracking the consideration of petitions from banks by the EFCC.
cc; lalasticlala

Source: https://metrovibes.ng/efcc-urges-banks-to-query-customers-sources-of-income/

This is insane, I am still saying it, we need more intelligent people to take decision for better economy, carelessness of Nigerian government has made them lost best people who could make things work, instead, opportunities were given to learner's and beginners to be in position of power who does not have ideas at all, I'm very sure if banks adopt this idea, people starting up business will find it difficult to make it.

What about source of poverty

Talibanis

So you want the bank to lose their customers abi? Senseless government why not question your people up there for their source of income..

kinglaxon:
Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission EFCC, has urged banks in the country to investigate potential customers’ sources of income before opening an account for them.

Bawa gave the advice on Tuesday during a courtesy visit to the Commission’s headquarters in Abuja by the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), led by its Chairman, Yinka Tiamiyu.

The EFCC implored the bank auditors to take issues of transparency in banking operations seriously, adding that starting from September 1, 2021 it will no longer be business as usual as the commission will hold banks liable where there are established cases of institutional complicity in fraud in the sector.

He however, affirmed the commission’s willingness to partner with the association in tackling financial crimes and related challenges 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 these information including their linked accounts,” Bawa said.

Tiamiyu in his remarks, said they were in the Commission to seek improved partnership between banks and the EFCC in tacking economic and financial crimes.

He reiterated the commitment of banks as lead actors in the nation’s financial system to sanitising the system, noting that it was not in the interest of the organizations to incubate or suppress financial malfeasance.

Amplifying this point, Uduak Udoh, Vice Chairman of the Association said, “Some customers are conniving with bank staff to loot funds. We want you to look into that area, not only the banks as we are ready to give you all the cooperation you need; we want you to trust bank auditors with information sharing because we cannot support fraudulent staff as they are a threat to the organization.”

They used the opportunity of the visit to highlight issues of concern to them and their organizations, including fast-tracking the consideration of petitions from banks by the EFCC.
cc; lalasticlala

Source: https://metrovibes.ng/efcc-urges-banks-to-query-customers-sources-of-income/

The way these guys reason sometimes you wonder if truly they are human being but still they are human being with depleted brain...