EFCC chases corrupt Nigerians to banks

Ahead of the 2019 general election, the Economic and Financial Crimes Commission (EFCC) appears to be making all efforts to ensure that corrupt Nigerians never escape the arm of justice.

The acting chairman of the anti-graft agency, Ibrahim Magu, has urged all banks in the country to make available to the commission, a list of their corrupt customers.

EFCC spokesman, Mr. Wilson Uwujaren, who disclosed this in a statement on Thursday, quoted Magu as making the call in Lagos on Tuesday at an interactive session with the Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN).

Magu, who noted that many banks in the country are on the verge of collapse owing to the activities of unscrupulous individuals, added that the development would help the commission curtail the level of corruption in the country.

“We must work together to save this country. Most of the banks are sitting on the water. In fact, some of these banks are almost collapsing.

“I know there are questions you can’t ask, particularly if it involves some individuals, but if you give us information on such people, we will move in. If there are fundamental issues that can affect your banks, you can give us the information, especially as another election season approaches.

“I don’t want to be charging banks alongside suspected criminals because doing so can wreak havoc on the economy. It will even discourage investors from coming to the country,” Magu said.

Expressing concerns over private banking in Nigeria, which could be abused by politically exposed persons, the EFCC boss called on the association to look very critically into the issue.

“There must be due diligence, even in this practice of private banking. There must be accountability; there must be transparency in our transactions. You don’t have to wait until anything goes awry before you begin to find a solution to it,” he said.

On things EFCC is ready to assist banks to achieve, Magu said, “The commission is ready to partner with you to ensure a healthy economy. We are ready to assist the banks in recovering their debts, but compliance officers must ensure due diligence, especially when giving out loans to customers.

READ ALSO: PDP perpetually blind to Buhari’s monumental achievements –Lai

“I know you sometimes need to protect some of your customers. But it is sometimes better that you do without some of these people; otherwise, you will be seen as conspiring with them to steal public funds.

“Every bank is capable of going distressed, no matter its size. That is why we are battling to see that you stay afloat.”

The chairman of ACCOBIN, Opeyemi Adojutelegan, responding lauded the commission for its intervention to save the banking sector and assured that the group was ready to “contribute our quota to the development of the country.”

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now