EFCC Allegedly Instruct Nigerian Banks to Query Their Customers’ Sources of Income

Bawa gave the advice on Tuesday, August 24 when the Association of Chief Audit Executives of Banks in Nigeria, (ACAEBIN), led by its chairman, Yinka Tiamiyu paid him a courtesy visit at the EFCC headquarters in Abuja.

Bawa implored the bank auditors to take issues of transparency in banking operations seriously.

He added that starting from Wednesday, September 1, it will no longer be business as usual, warning that the commission will hold banks liable where there are established cases of institutional complicity in fraud in the sector.

He, however, affirmed the commission’s willingness to partner with the association in tackling financial crimes and related challenges in the banking sector.

The Guardian newspaper quoted him as saying:
“I will like to urge you to know your customers, know the kind of businesses they do before opening an account for them because some customers will open an account within a space of two months a huge sum of money is found in the account.