Banks will now be held liable for fraud – EFCC

The Financial and Monetary Crimes Fee (EFCC) has positioned banks in Nigeria below surveillance.

The anti-graft company mentioned this turned crucial because of the involvement of some establishments’ administration and employees in monetary crimes.

Nigerians shedding cash to fraudulent funding schemes – EFCC

Abdulrasheed Bawa, the Chairman, implored financial institution auditors to take problems with transparency in banking operations severely.

He spoke at a gathering with the Affiliation of Chief Audit Executives of Banks in Nigeria (ACAEBIN).

The EFCC chief introduced that from September 1, 2021, “it’ll now not be enterprise as normal”.

“The fee will maintain banks liable the place there are established instances of institutional complicity in fraud within the sector.”

Bawa had alerted that people and firms who illegally take funds out of Nigeria get help from banks.

“There are conspirators; engineers, professionals, accountants and monetary establishments are serving to them”, he mentioned.