MAJOR BANK FRAUDS, TOP OFFICIALS TO FACE PROSECUTION, SAYS EFCC
The Economic and Financial Crimes Commission (EFCC), says it will soon commence the prosecution of banks and their top officials for financial frauds.
The EFCC Chairman, Mr Olanipekun Olukoyede, said this at the 17th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday.
Olukoyede said the Commission had compiled its investigations and necessary documents to substantiate the claim.
He said that some of the major and mind-boggling financial frauds were done through the banking industry.
”We will no longer fold our arms. We need to do something drastic to bring everybody in line and make us do the right thing.
”In a system where there are no sanctions, that system will not survive,” he said.
The EFCC Chairman urged the CIBN to step up its regulatory oversight of its members to adhere to the codes of professionalism.
He said that from the Commission’s investigations of financial crimes involving members of the profession, there was gross contempt in regulation which bothered on impunity.
”On our part as EFCC, we are committed to working with the institute and financial services sector through robust enforcement of anti-money laws and attacks from cyber-criminals both from within and without.
”It is my hope that you will all look at yourselves in the mirror and leave this place with renewed commitment to professionalism and determination,” he said.
The News Agency of Nigeria (NAN) reports that the theme of the conference is: ‘Accelerated Economic Growth and Development, the state of Play and the Way Forward’.
More Stories
#ENDBADGOVERNANCE PROTEST: REPS MINORITY CAUCUS DEMANDS VICTIMS COMPENSATION
The Minority Caucus of the House of Representatives has called for punitive action against perpetrators, and compensation for victims of...
POLICE DENY ALLEGED INVOLVEMENT OF OPERATIVES IN ROBBERY
The Yobe Police Command has denied the report in an online media platform alleging that two of its personnel were...
HOW MY LATE WIFE SECURED MY RELEASE FROM PRISON – OBASANJO REVEALS
Former President Olusegun Obasanjo recently reflected on his time in prison, recounting the pivotal role his late wife, Stella, played...
MIKE BAMILOYE SLAMS CHRISTIAN DISUNITY OVER TRUMP SUPPORT
Pastor Mike Bamiloye, the founder of Mount Zion Faith Ministries, has slammed divisions among Christians, especially in the United States,...
JUST IN: AUSTRALIAN PLANE MAKES EMERGENCY LANDING AFTER ENGINE FAILURE
On Friday, an engine failed on a passenger plane leaving Sydney, Australia, prompting the plane to circle before making a...
APPROPRIATION BILL: KANO GOVT ALLOCATES 13% of N549BN 2025 BUDGET EXPENDITURE TO EDUCATION
Prioritising infrastructure, health, and education, Governor Abba Yusuf gave the Kano State House of Assembly a historic N549.16 billion 2025...