EFCC Warns Banks Against Unauthorized Disclosure of Investigation Activities

In a recent meeting with compliance officers of banks in Ibadan, the Economic and Financial Crimes Commission (EFCC) issued a stern caution against the unauthorized disclosure of its investigation activities and requests from banks to their customers.

The Executive Chairman, represented by the Acting Zonal Director of the Ibadan Zonal Command, ACE I Hauwa Garba Ringim, expressed concern over the practice of compliance officers sharing information with customers, stating that it undermines the EFCC’s efforts in combating financial crimes.

Emphasizing the detrimental impact on investigations and corruption cases, the EFCC urged banks to respond promptly to letters from the Commission with certified true copies of relevant documents to facilitate investigations.

Additionally, the EFCC condemned illegal dealings with Point-of-sale (POS) operators, citing discrepancies in cash availability between ATMs and POS transactions.

The Commission vowed to address these issues to uphold transparency and combat financial fraud in Nigeria.