The Economic and Financial Crimes Commission, EFCC, has called on banks to collaborate with it in fighting money laundering and other forms of economic and financial crimes.

This call was made on March 12, 2013 by Mr. David Iloyanomon, Head of Operations, Enugu zonal office of the Commission, when he hosted some senior bank officials in his office. Iloyanomon called on banks to cooperate with the Commission as a way of finding lasting solution to the issues of fraud, internet scam and other forms of economic crime bedevilling the financial sector.

The Head of Operations who highlighted the challenges the Commission face in carrying out its duties as it relates to the banks, urged the bankers to see the meeting as a platform to share ideas with the EFCC on how to rid Nigeria of fraud and economic crimes.
He charged the representatives of the banks to ensure that due diligence in the opening of new accounts as banks are known not to fully implement the Know-Your-Customers (KYC) mandate.

He bemoaned a situation where banks grant loan to customers without adequate security and also, the delay in responding to the commission's requests when there are issues that needs clarification. He noted that recruiting contract staff without proper back ground checks or recruiting staff from other banks without properly investigating such staff was responsible for some of the problems in the sector.

In his remark, Emeka Madu of Zenith Bank Plc agreed that integrity tests should be conducted for bank staff before recruitment.
Innocent Olidu, a staff of GT Bank Plc commended Iloyanomon for the gathering but pointed out that banks might need assistance in the verification of identities of customers.

However, Falola Ogunbiyi of Skye Bank Plc asked banks to return to the basics. "Those being employed should be made to learn about banking from the general banking etiquette; employers should also consider experience and integrity while morality should be a yardstick for employing a bank worker", he said.
Iloyanomon thanked the bankers for honouring the invitation and for sharing ideas that will boost the fight against economic and financial crimes.

Media & Publicity Unit
14th March, 2013