EFCC Boss Warns Bank Compliance Officers Against Unauthorised Disclosure of Investigation Activities

11th May 2024

The Economic and Financial Crimes Commission’s (EFCC) Chairman, Ola Olukoyede, has warned compliance officers in banks nationwide to refrain from unauthorised disclosure of EFCC investigation activities and requests made to bank customers.

He noted that the EFCC was aware that
compliance officers often disclosed information to their clients about letters of investigation activities sent to banks by the EFCC, which typically compromised financial crime investigations and delayed filing of corruption cases in court.

This warning was disclosed in a post shared on X by the anti-graft sgency, on Saturday, May 11.

The post partly reads: “The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has called on Compliance Officers of Banks across the country to desist from unauthorized disclosure of EFCC’s investigation activities and request from banks to their customers.

“According to him, the EFCC is aware of the fact that Compliance Officers give information to their clients regarding ‘letters of investigation activities’ written to the banks from the EFCC, adding that, the act usually jeopardizes the investigation exercise of financial crimes and delay corruption cases from being filed before the law court.

“He decried the unhealthy support fraudsters receive from the banking sector in Nigeria, stressing that it is posing considerable challenges and concerns to the Commission.

“The EFCC’s boss also urged them to always respond to letters received from the Commission with certified true copies including instruments of transactions of beneficiaries or sources, as this will expedite processes of investigation to a logical conclusion. Furthermore, he stated that illegal dealings and trading in naira with the Point-of-sale (POS) operators must stop.”

Source: X | officialEFCC