EFCC Cautions Banks Against Unauthorized Disclosure Of Investigation Information

EFCC Cautions Banks Against Unauthorized Disclosure Of Investigation Information

The Economic and Financial Crimes Commission (EFCC) has cautioned compliance officers in banks nationwide against divulging unauthorized information about the commission’s ongoing investigations and requests for information to their customers…….CONTINUE READING

During a meeting with bank compliance officers in Ibadan, the Executive Chairman of the EFCC, Ola Olukoyede, conveyed this message, emphasizing the importance of maintaining confidentiality.

Olukoyede, represented by the Acting Zonal Director of the Ibadan Zonal Command, Hauwa Garba Ringim, expressed concern over reports of compliance officers sharing information with clients. He criticized this practice and highlighted its negative impact on financial crime investigations and corruption cases.

The EFCC chief stressed the importance of prompt response to the commission’s inquiries with certified true copies of transaction instruments, facilitating thorough investigations.

Additionally, Olukoyede raised concerns about the unequal treatment of citizens in terms of ATM withdrawals and transactions with Point-of-sale (POS) operators. He called for an end to illegal naira trading by POS operators and urged Nigerian banks to address this issue promptly.