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EFCC Chair Urges Bank Compliance Officers to Safeguard Investigation Activities

Olanipekun Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), issued a stern call on Saturday to compliance officers in banks nationwide. He urged them to refrain from unauthorized disclosure of the EFCC’s investigation activities and requests made to their customers.

Expressing concerns about the detrimental support fraudsters receive from Nigeria’s banking sector, Olukoyede emphasized the significant challenges this poses for the commission. The statement was conveyed by Dele Oyewale, the Head of Media and Publicity, in Ibadan, Oyo State.

Olukoyede’s message was relayed during a stakeholders’ meeting with compliance officers of banks in Oyo State, led by Hauwa Ringim, the Acting Zonal Director of the Ibadan Zonal Command.

He highlighted the negative impact of compliance officers divulging information to clients regarding EFCC’s “letters of investigation activities” addressed to banks. Such actions impede financial crime investigations and cause delays in prosecuting corruption cases.

Olukoyede urged compliance officers to promptly respond to EFCC’s letters by providing certified true copies of relevant documents, facilitating the expeditious conclusion of investigation processes.

Additionally, Olukoyede emphasized the need to curb illegal dealings and naira trading with Point-of-Sale (POS) operators. He stressed the unfairness of the disparity between limited ATM withdrawals and the substantial sums handled by POS operators.

Assuring compliance officers of the commission’s unwavering support, Olukoyede reaffirmed their pivotal role as stakeholders in the fight against economic and financial crimes.

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