BY ANKELI EMMANUEL, Sokoto-
The Zonal Head of Economic and Financial Crimes Commission (EFCC) in charge of North-West zone, Mr Bawa Usman Katungun has revealed that most of the banking frauds are impossible without insider’s collaboration.
Mr. Katungun, stated this during a meeting with the various banks compliance officers on Tuesday in Sokoto State.
The EFCC Head, who decried that their Commssion often encounter delay in getting response to investigation letters to the various banks, appealed to the financial institutions to collaborate with them towards curtailing money laundering, financing terrorist groups and other illicit flows of money.
According to Katungun, the meeting was in response to the directive of the EFCC boss, Mr Abdulrashed Bawa as one of his numerous strategies in fighting all manners of corruption.
“This is to ensure that fraudsters do not get away with proceed of their crimes undetected. And towards achieving this we are appealing to all the banks to facilitate better working relationship with anti graft agency”. He said.
Giving advise on one of the ways of tracking down illicit finance, Mr. Katungun urged banks in Sokoto State to put more effort towards setting up Special Control Unit Against Money Laundering (SCUML).
Speaking why banks should collaborate with EFCC in the investigation, Katungun said, “investigation gives you the opportunity to know how it happened and best way to stop it”
While expressing reservation about the idea of opening banks accounts with mere phone numbers, Katungun stressed that nearly 40 percent of Americans do not have account, hence not very compulsory for everybody in Nigeria to have accounts.
He also divulged that whatever regulation that comes from the Central Bank of Nigeria (CBN) would not supercede the money laundering act.
Mr. Katungun also insisted that banks should strictly monitor activities of mobile money agents, popularly known as POS in the State.
Reacting, one of the participants, Jimoh Jamiu from Fidelity bank, noted that the banks are trying their best towards ensuring that they help in combating money laundering.
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