EFCC Tells Banks, Send Us Names Of ‘Unscrupulous Customers’

The Economic and Financial Crimes Commission (EFCC), has told banks to make available information on customers who owe them huge debt.

EFCC acting chairman, Ibrahim Magu, made the call on Thursday while speaking at an interactive session with the Association of Chief Compliance Officers of Banks in Nigeria.

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In the statement released by Wilson Uwujaren, EFCC spokesman, Magu was quoted as saying that a lot of Nigerian banks are almost collapsing because of “unscrupulous customers”.

Magu said the EFCC is ready to step in and assist the banks.

“We must work together to save this country. Most of the banks are sitting on the water. In fact, some of these banks are almost collapsing,” he said.

“I know there are questions you can’t ask, particularly if it involves some individuals, but if you give us information on such people, we will move in. If there are fundamental issues that can affect your banks, you can give us the information, especially as another election season approaches.

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“I don’t want to be charging banks alongside suspected criminals because doing so can wreak havoc on the economy. It will even discourage investors from coming to the country.

“There must be due diligence, even in this practice of private banking. There must be accountability; there must be transparency in our transactions. You don’t have to wait until anything goes awry before you begin to find a solution to it.

“We are ready to assist the banks in recovering their debts, but compliance officers must ensure due diligence, especially when giving out loans to customers.

“Every bank is capable of going distressed, no matter its size. That is why we are battling to see that you stay afloat.”

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