The fight against economic crimes in Nigeria was taken a step further on Thursday March 7, 2019 when officials of the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) met on Thursday, March 7, 2019, at the head office of the apex bank in Abuja to compare notes and map out strategies to tackle the menace.
Isaac Okorafor, director of communications at the CBN, in a statement made available to business a.m. said the meeting provided an opportunity for the two entities to share experiences and peculiar challenges in the fight against economic related crimes.
Hep said that the two agencies adopted strategies aimed at curtailing the unwholesome activities of economic saboteurs which include smuggling of commodities like rice, textile materials, fertilizer, wheat and other items on the prohibition list for accessing foreign exchange through official window, as well as tracking illicit financial flows.
The CBN and EFCC will also be collaborating in the areas of anti-money laundry and the monitoring of politically exposed persons in the country, Okorafor said on the outcome of the meeting.
He disclosed that the meeting was chaired by Jeremiah Abue, director, Governors’ department of the CBN, where it was also agreed to improve the level of information-sharing and surveillance of the financial sector.
The CBN under the auspices of the Bankers’ Committee, had earlier said that any individual or corporate body found to be complicit in economic crime or attempts to circumvent economic laws and regulations of the country may be barred from operating a bank account in any bank in Nigeria.
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Frontpage August 28, 2019