According to the new rules kicking in come September 1, in Nigeria banks will be held responsible for their actions on complicity of fraud in the banking sector by Economic and Financial Crimes Commission.
In an address to members of the Association of Chief Audit Executives of Banks In Nigeria (ACAEBIN) led by Yinka Tiamiyu on a courtesy call to his office, the EFCC Chairman Mr. Abdulrasheed Bawa stated that the bank auditors should take the issue of fraud and transparency serious in the banking sector. It won't be business as usual in the future as EFCC will hold the banks responsible.
“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,” he said.
EFCC chairman held affirmed commission’s willingness to work with the association in strangling financial crimes and related challenges in the banking sector.
“EFCC welcomes your suggestion of robust partnership. We cannot do this job alone. We need information, and for all Nigerians to be on board, to rid our country of corruption”, he said.
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