‘Query’ customers’ sources of income, EFCC Urges Banks
The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has urged banks in the country to investigate the sources of income of their potential customers before opening an account for them.
Bawa gave the advice on Tuesday when the Association of Chief Audit Executives of Banks in Nigeria, (ACAEBIN), led by the Chairman, Yinka Tiamiyu paid him a courtesy visit at the Commission`s headquarters, Abuja.
The EFCC implored the bank auditors to take issues of transparency in banking operations seriously, adding that starting from September 1, 2021 it will no longer be business as usual as the commission will hold banks liable where there are established cases of institutional complicity in fraud in the sector.
He however, affirmed the commission’s willingness to partner with the association in tackling financial crimes and related challenges in the banking sector.
He however, affirmed the commission’s willingness to partner with the association in tackling financial crimes and related challenges in the banking sector.
“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,” Bawa said.
