The Economic and Financial Crimes Commission (EFCC) has called on financial institutions across Nigeria to strengthen their cooperation with the Commission in the ongoing war against economic and financial crimes.

The charge was given by the Acting Zonal Director of the EFCC in Port Harcourt, Assistant Commander of the EFCC (ACE I), Adebayo Adeniyi, during an engagement with bank compliance officers on Tuesday, April 29.

Adeniyi emphasized the need for banks to carry out proper Customer Due Diligence (CDD) and Know Your Customer (KYC) procedures to ensure a more robust anti-corruption framework.

“It is important to remind banks of their critical roles as major stakeholders in the fight against corruption and that there is a need for the Commission and the banks to work together,” Adeniyi stated.

He further urged compliance officers to uphold ethical conduct, honesty, and accountability in their dealings, adding that customers who refuse to adhere to due diligence and KYC protocols would face sanctions.

Highlighting challenges faced by the Commission, Adeniyi warned against unprofessional practices by some account officers, including aiding internet fraudsters through the creation of multiple accounts or leaking information about EFCC investigations.

“Inasmuch as you have to protect the bank, don’t do so at the detriment of the nation. Do not protect the bank and destroy the image of your own family

~Johnmartins Ijere