With lower than two years to the 2023 common elections, the Financial and Monetary Crimes Fee (EFCC) has issued a stern warning to banks towards fraudulent election financing, overseas alternate malpractice and cash laundering.
The Fee stated it had develop into obligatory not solely to place bankers on their toes, however to additionally carry the monetary establishments within the nation on top of things with the evolving insurance policies within the Fee.
The EFCC spokesman, Wilson Uwujaren, in an announcement on Thursday, quoted the Chairman of the Fee, Abdulrasheed Bawa, as saying this throughout an interactive session with managing administrators of banks in Nigeria.
“On the EFCC, we wish to place extra emphasis on prevention. We wish to lay much less emphasis on enforcement, which is investigation and prosecution and put our vitality extra on prevention and asset restoration.
“As well as, a number of the points now we have recognized embody overseas alternate malpractices and fraudulent election financing.
“As you all know, in 16 to 18 months, Nigeria shall be making ready for an additional spherical of elections, and the federal government is not going to need what occurred previously to repeat itself,” Bawa stated.
Whereas charging the banks to adjust to the rules of the Central Financial institution of Nigeria on the issuance of Private Journey Allowance, PTA, and Enterprise Journey Allowance, BTA, to their clients, the EFCC Chairman additionally harassed that monetary establishments have an vital function to play within the Fee’s efforts to rid Nigeria of financial and monetary crimes.