EFCC Raises Alarm Over Deep Corrupt Practices In The Banking Sector

It has been reported that the Chairman of Economic and Financial Crimes Commissions, AbdulRasheed Bawa, has raised alarm over alleged corrupt practices among bank officials in the country on Monday.

According to reports, Bawa lamented that there are different shades of fraudulent activities going on in Nigeria’s financial institutions, particularly in the banking industry sector.

Disclosing this on Monday during the official opening of a three-day capacity building workshop for law enforcement agencies organised by the Nigeria Deposit Insurance Corporation, held in Abeokuta, Ogun State capital, he made it known that, “We are aware of the different shades of fraudulent activities going on in our financial institutions, particularly in the banking industry.”

He stated: “In carrying out our mandate of ridding Nigeria of corruption, as mandated by the EFCC Establishment Act, we have realised that there is a slew of corrupt practices going on in the banking sector.”

“I recall that upon assumption of office, one of the major pronouncements I made was giving a directive to bankers to declare their assets before June 1, 2021.”

“I had given the directive genuinely out of the sincerity of purpose, knowing the rot that permeates the nation’s banking sector. In other words, the directive was borne out of efforts to sanitize the banking sector. But it was received with mixed feelings.”

The EFCC boss made it known “It is obvious that those who kicked or are still kicking against the directive are ignorant of the unmistakable details of the Bank Employees Declaration of Assets Act.”

He continued that, “Unlike the claims in some quarters, it is not a witch-hunt; rather, it is part of measures to sanitise the country’s financial institutions.”

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Esther Ifeoluwa

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