Connect with us

Asonaija

Not all Nigerians need bank accounts – EFCC

NEWS

Not all Nigerians need bank accounts – EFCC

 

The Economic and Financial Crimes Commission, EFCC, says Nigerians are not required to have a bank account amid a growing wave of bank fraud and insider trading in the banking industry.
EFCC also rejected the idea of ​​opening a bank account with just a phone number, arguing that nearly 40% of Americans do not have an account.
Bawa Usman, EFCC regional head in Sokoto, made the statement Tuesday during a roundtable discussion with commercial bank compliance officials.
He said; “Nearly 40% of Americans do not have an account. So everyone in Nigeria is not required to have a bank account.
According to Usman, whose area includes Sokoto, Kebbi, and Zamfara, insiders facilitate most of the financial fraud in the banking industry.

READ ALSO: CBN confirms N410.25/$ as official exchange rate
The Committee convened a meeting to strengthen relations and cooperation between the EFCC and banks in the fight against fraud.
The EFCC boss added that banks often frustrate EFCC investigations when they delay responding to their letters.

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in NEWS

To Top