EFCC: 70% of Financial Crimes Linked to Nigerian Banks

EFCC: 70% of Financial Crimes Linked to Nigerian Banks
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The Economic and Financial Crimes Commission (EFCC) has revealed that around 70% of financial crimes in Nigeria are perpetrated within or connected to banking operations.

The EFCC Chairman, represented by the Director of Internal Audit, Idowu Apejoye highlighted the prevalence of fraudulent activities within the banking sector, including both internal and external fraud.

EFCC: 70% of Financial Crimes Linked to Nigerian Banks
    Mr. Ola Olukoyede; EFCC Chairman

    Apejoye, who spoke at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) in Abuja on Monday urged ACAEBIN to ensure proper reconciliation of accounts monthly to combat these challenges.

    Read Also: New EFCC Leadership and Tinubu’s Anti-Corruption Drive

    ACAEBIN expressed commitment to addressing these issues through introspection and collaboration with the EFCC. They emphasized the importance of KYC measures and efforts to sanitize the financial system.

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