The Economic and Financial Crimes Commission (EFCC) has called on financial institutions across Nigeria to enhance their collaboration with the Commission in the ongoing fight against economic and financial crimes.
Speaking on Tuesday in Port Harcourt, Rivers State, the Acting Zonal Director of the EFCC, Assistant Commander of the EFCC (ACE I), Adebayo Adeniyi, addressed bank compliance officers.
He urged them to prioritise customer due diligence and robust Know Your Customer (KYC) procedures.
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Adeniyi emphasised the crucial role of banks in the anti-corruption campaign, warning that institutions and individuals who fail to adhere to due diligence and KYC guidelines would face sanctions.
He stressed the need for ethical conduct, transparency, and accountability in banks’ dealings with customers.
“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,” he stated.
The EFCC official also highlighted the significance of proper customer identification and regular updates of customer records to support ongoing investigations.
He cautioned bank staff, especially account officers, against aiding internet fraudsters by facilitating the creation of multiple accounts or tipping off customers under investigation or whose accounts have been flagged by the EFCC.
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“In as much 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 and that of the society,” Adeniyi warned.
In response, Edward Keto, one of the compliance officers present, commended the EFCC for the engagement.
“It is a privilege to have this kind of meeting with the Commission, and it will help us deal more professionally with our customers,” he said.
