EFCC Chairman Bawa has tables fresh demands to Nigerian Bank Directors on preventing crime in the banking sector.
Truetells Nigeria understands that EFCC Chairman Bawa is placing emphasis more on the prevention of crime, and less on investigation and prosecution.
This online newspaper understands that Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission (EFCC), wants financial institutions in Nigeria to play by the rules and shun malpractices.
In a meeting with bank directors on Thursday, August 19, 2021, the EFCC boss said the institutions must cooperate with the anti-graft agency to fight fraudulent election financing, foreign exchange malpractices, and money laundering.
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He noted that the agency is committed to placing its emphasis more on the prevention of crime, and less on investigation and prosecution.
Foreign exchange malpractices, and fraudulent election financing, he said, are two of the biggest challenges the EFCC is hoping to tackle effectively.
“Any banker complicit in any such financial fraud will face the full wrath of the law.
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“It is better to have fewer banks complying with the laws of the land than to have multiple banks not complying with the laws,” he said.
EFCC Chairman Bawa assured the directors at the Lagos meeting that financial institutions are important partners in the EFCC’s efforts to stamp out economic and financial crimes.
Truetells Nigeria reports that EFCC Chairman Bawa also said that the country needs to expeditiously evolve its policies in line with the United Nations’ categorisation of the fight against corruption.
Some of the bank directors pledged to support the EFCC’s fight against corruption in Nigeria, and called for regular engagement with bankers.
