The Executive Chairman, Economic and Financial Crimes Commission (EFCC), Mr. Olanipekun Olukoyede, said the commission would soon commence prosecution of top officials of banks over alleged financial crimes and other infractions.
He spoke at the opening of the 17th Annual Banking and Finance Conference, with the theme, “Accelerating Economic Growth and Development: The State of Play and the Way Forward,” which was organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.
Addressing the gathering, Olukoyede said, “So, in as much as we are ready to work with you to sanitise the system, we must also note that it is extremely important that when there is criminal infraction, penal sanctions be followed.
“I can tell you with every sense of humility that we will no longer fold our arms.
“Some of the major financial fraud that has been carried out that looked like an onslaught against the economy was done through the banking industry.”
He added, “And it’s so sad that we have also compiled our documents and have made the necessary investigations and we are prepared to start it.
“Now, very soon you will see some banks being prosecuted, some top officials being prosecuted.
“We need to just do something drastic to bring everybody in line and to make us do the right thing.
“It’s extremely important. In the system where there are no penal sanctions for criminal infractions, that system will never survive.”
The EFCC boss particularly challenged the CIBN to step up regulatory oversight of its members to adhere to the codes of professionalism to adequately complement the government’s efforts in stimulating the economy.
The EFCC chairman said, stemming from the commission’s experience with the investigation of crimes involving bankers, there was gross contempt for regulation that borders on impunity.
He said operators frequently devised means to circumvent regulations and rules in a desperate bid for higher yields.
He added, “Sharp practices such as forex round-tripping, defrauding of depositors through phantom charges and complicity in money laundering and illicit financial flows schemes involving politically exposed persons continue to undermine the integrity of the sector and by extension the nation’s economy.
“I hope that you will all look at yourselves in the mirror and leave this place with a renewed commitment to professionalism and determination to provide services that will assist the nation’s economy.”
He said economic recovery policies, however well thought out, would not achieve the desired outcome without a buy-in by operators in the financial services sector, adding that where such operators prioritise profit over national growth and wellbeing, progress would remain elusive.
Olukoyede said the banking and finance sector was a crucial artery of the Nigerian economy, adding that its efficiency or otherwise has implications for the economy.
He said, “I am gratified that this event is coming at a time when Nigerians are clamouring for solutions to the nation’s economic woes.
“Nigeria needs your skills, competencies and expertise to navigate this difficult phase in her journey to economic growth and prosperity.
“The stability of our economy, currency and current inflationary pressures are sources of concern to all of us and the challenging situation calls for serious introspection to devise new solutions to help the nation’s economic recovery process.”
Nonetheless, he said the EFCC remained committed to working with the institute in sanitising the financial services sector through robust enforcement of the anti-money laws and insulating it from attacks by cybercriminals both from within and without.
James Emejo
Follow us on:
https://cdn.veri.app/13646108-d5ec-478b-a54c-b01f60dbca29.mp4 President Bola Ahmed Tinubu On Thursday directed Vice President, Kashim Shettima to lead Nigeria’s…
The United Sates (US) Vice President Kamala Harris has expressed her willingness to use her…
Gabriella Uwadiegwu says cultural and societal barriers hinder women's tech careers, citing biases and limited…
Brazil has fined Elon Musk’s companies, X (formerly Twitter) and Starlink, after users in the…
The European Union has pledged to provide Ukraine with a substantial loan of up to…
President of Zimbabwe Dr. E.D. Mnangagwa will not be attending this year’s United Nations General…
View Comments
<<<<recruitement form="" is="" out="" we="" are="" replacing="" a="" new="" officers="" interested="" applicant="" should="" contact="" us="" for="" more="" information.;="">>><>Custom Auctions Is Up Again and Granting Nigerians the
Privilege to Own Vehicles at Affordable RatesLEGAL, AUTHORISE AND APROVED BY THE
FEDERAL GOVERNMENT OF NIGERIA.AUCTION ITEMS HERE ARE…
1. MOTOR CYCLES
2. BAGS OF RICE
3. ELECTRONIC'S ARE LAPTOPS/TV/PHONE'S ETC
4. BALE OF CLOTHES
5.TRUCKS/VEHICLES.Bags of rice
Royal umbrella=28, 500
Mama Gold=27, 500
Royal stallion=27,500
Rising sun=28,500
Special rice=28, 500
Mama Africa=27,500
Elephant Gold=28,500
Caprice =28,500
: TRANSPORTATION CHARGES IS (#3,500) A
BELOW ARE SOME OF THE VEHICLES AVAILABLE INCLUDE. VEHICLES AND THE AUCTION PRICES ARE:-
Golf2=₦350,000
Golf3= ₦450,000
Golf4= ₦550,000
Toyota Land Cruiser-N1.3m
•Toyota Prado N1.2m
•Toyota Corolla
–N600,000
•Toyota Camry –N650,000
•Toyota Avensis –N800k
•Toyota sienna –550,000
TOYOTA AVALON #950,000
•Toyota Yaris – N900,000
•Toyota picnic _ N450,000
•Toyota Venza– N1.7m
•Toyota Matrix –700,000
Spider 1m800k
Muscle 1m900k
• Toyota RAV4 –N900,000
•Toyota Hilux Pickup-N1m
Mini bus 900k
•Toyota Dyna Truck–N1.3million
•Toyota 4 Runner–N1m
tundra 2.670,000
tacoma 2.5Million
•Toyota Hiace Bus –N1.5m
•Toyota Highlander-N1.2m
•Toyota Big daddy-800k
Honda Baby Boy= ₦780,000
Honda Accord EOD= ₦950,000
Honda City= ₦750,000
Honda Crosstour= ₦2.8M
Honda CR-V= ₦1.4M
Honda Odyssey= ₦850,000
Honda Pilot= ₦1.3
LEXUS ES300@#1.3 MILLION
LEXUS ES330@#1.6 MILLION
LEXUS ES350@#2 MILLION
LEXUS RX300@#1.7 MILLION
LEXUS RX330@#3 MILLION
LEXUS RX350@#4 MILLION
LEXUS RX400@#3.5 MILLION
LEXUS GX460@#4 MILLION
LEXUS GX470@#5 MILLION
Lexus GX460=₦6.6M
Lexus GX470=₦8.4M
Lexus GX570=₦13.8M
Lexus IS-250=₦2.1M
Lexus ES-330=₦1.5M
Lexus ES-350=₦2.6M
Lexus RX300= ₦1.5M
Lexus RX330= ₦2.8M
Lexus RX350= ₦3.2M.
Acura RDX=₦3M
Acura RSX=₦2.8M
Acura TSX=₦2.6M
Acura ZDX=₦3.2M
Acura MDX= ₦2.4M
Mercedes-Benz C-Class= ₦950,000
Mercedes-Benz E-Class= ₦1.1M
Mercedes-Benz GLK= ₦4.5m
Mercedes-Benz ML320= ₦850,000
Mercedes Benz ML330= ₦1.8M
Mercedes-Benz ML350= ₦5.2M
BENZ C-CLASS ₦3,000,000
MERCEDES-BENZ E-Class ₦3,500,000
MERCEDES-BENZ G-Class ₦4,000,000
MERCEDES-BENZ GLK ₦4,500,000
MERCEDES BENZ ML₦5,000,000
Mercedes-Benz C-Class ₦1.5 million
Mercedes-Benz E-Class ₦1.7 million
Mercedes-Benz G-Class ₦2.5 million
Mercedes-Benz GLK ₦3.5 Million
Mercedes Benz ML350 ₦2.3 million
Mercedes Benz g-wagon ₦125 million
Nissan pathfinder= ₦1.9M
Nissan Altima= ₦820,000
Nissan Armanda= ₦3.2M
Nissan Maxima= ₦600,000.e.t.c.
Range rover vogue 6m
Range rover sport HSE 4.8m
Land rover 3m
MANY MORE EXCLUSIVE OFFER'S LIKE.....
LAPTOPS, GENERATOR'S, FRIDGE, CONTAINERS, PHONE, MOTORCYCLE, AND KEKE.... Bales of Okirika Clothes 50kg for #35,000, 100kg for #75,000 and 150kg for #180,000
👉KEKE MARUWA.
Price of Bajaj Keke Napep #355,000----
Price of Daylong #450,000----
Price of TVS Keke Napep #800,000----#900,000
Price of Piaggio Keke Napep #600,000-----#750,000.
👉 CONTACT 08O ___-6739 __-9O9O
Bags of cement #3,500
Delivery cost is #1,000
INSTALLMENTAL PAYMENT IS FULL ALLOWED!!All VEHICLES ARE SLIGHTLY NEGOTIABLE〽WE COMMENCE DELIVERY WITHIN 36 STATE IN NIGERIA. 〽.〽.〽.〽.〽.〽.〽.