The Economic and Financial Crimes Commission (EFCC) states it is not compulsory for Nigerians to have bank accounts. This claim is based on the rising cases of bank frauds and insider crimes in the banking sector.
Jameela News reports that the EFCC also kicked against the idea of opening bank accounts with “mere phone numbers,” arguing that almost 40 percent of Americans do not have bank accounts.
Bawa Usman, zonal head of the EFCC in Sokoto stated that “Nearly 40 percent of Americans do not have accounts. So, it is not very compulsory for everybody in Nigeria to have a bank account,”.
Mr. Usman also stated that insiders facilitate most financial frauds in the banking industry. He stated this yesterday in Sokoto at a meeting organized by the EFCC. The meeting aimed to strengthen the collaboration and relationship between the EFCC and commercial banks in tackling frauds.
Mr. Usman additionally cited that sometimes the banks frustrated their investigations as they delayed replying to its letters.
“Such delays jeopardize our investigation. Financial institutions must collaborate with us toward curtailing money laundering, illegal financing, and other illicit flows of money.
“The meeting is a response to the directive of the EFCC leadership. It is one of the numerous strategies toward fighting all manners of corruption.
“The commission strives to ensure that fraudsters do not get away with proceeds of crimes undetected. To achieve this, we are appealing to all banks to facilitate a better working relationship with the anti-graft agency,” he explained.
Mr. Bawa Usman told the banks to make sure eligible customers get Special Control Unit Against Money Laundering numbers and ensure compliance with them.