Please refrain from disclosing our investigation activities to customers – EFCC cautions banks

The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to compliance officers of banks nationwide, urging them to refrain from disclosing unauthorized information about the EFCC’s investigation activities and requests to customers.

The Executive Chairman of the commission, Ola Olukoyede, conveyed this message during a meeting with compliance officers in Ibadan, the capital of Oyo state.

Olukoyede, represented by the Acting Zonal Director of the Ibadan Zonal Command, ACE I Hauwa Garba Ringim, expressed concern over the support that fraudsters receive from the banking sector in Nigeria.

He emphasized that such actions pose significant challenges and hinder the progress of investigations into financial crimes and corruption cases. Olukoyede also urged compliance officers to promptly respond to letters from the EFCC with certified true copies and relevant transaction documents, as this would expedite the investigation process.

Additionally, he called for an end to illegal dealings and trading in naira with Point-of-sale (POS) operators, highlighting the unfairness of limited ATM withdrawals for Nigerians compared to the large sums of money carried by POS operators.