The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has requested monetary establishments within the nation to not have interaction in “fraudulent election financing, foreign exchange malpractices and money laundering.”
According to the EFCC boss talking on Thursday throughout an interactive session with Managing Directors of banks in Nigeria in Lagos, it was crucial to deliver the monetary establishments within the nation up to the mark with the rising insurance policies within the fee.
Bawa asserted that the collaborative effort is in keeping with the United Nations’ categorization of the combat in opposition to corruption vis-à-vis prevention, enforcement and property restoration.
This was contained in an announcement despatched by the Commission’s Head, Media and Publicity, Wilson Uwujaren, obtained by SaharaReporters on Thursday.
According to him, “At the EFCC, we want to place more emphasis on prevention.
“We want to lay less emphasis on enforcement, which is investigation and prosecution and put our energy more on prevention and asset recovery.
“In addition, some of the issues we have identified include foreign exchange malpractices and fraudulent election financing.
“As you all know, in 16 to 18 months, Nigeria will be preparing for another round of elections, and the government will not want what happened in the past to repeat itself.”
The nation’s anti-graft chief stated it had grow to be crucial to place bankers on their toes, significantly because the 2023 common elections approached.
Bawa additionally declared that the “new EFCC” underneath his management believes that the monetary establishments possess an essential function to play within the Commission’s efforts to purge the nation of financial and monetary crimes.
He added that the event was used to cost the bankers to adjust to the rules of the Central Bank of Nigeria, CBN, on the issuance of Personal Travel Allowance, PTA and Business Travel Allowance, BTA, to their clients.
“You want to make sure full compliance with regard to understanding your clients and guaranteeing that you don’t give alternatives for overseas alternate malpractices.”