Press statement from EFCC.
The Economic and Financial Crimes Commission EFCC, is to collaborate with the Central Bank of Nigeria, CBN, to review laws of the Banking and Other Financial Institutions Act, BOFIA, 2004 to effectively tackle the emerging money laundering trends and other corrupt practices in the country.
This was made known on Wednesday, April 20, 2016 by David Illoyanomon, Head, North West Zonal Office of the EFCC during a courtesy call to the CBN, Kano Branch. Illoyanomon noted that, “at this point in time when the country is facing challenges in areas of fraudulent practices, the CBN remains pivotal in stabilizing the Nigerian economy through reviewing of some of its laws which due to emerging fraudulent practices have made them archaic.”
In her remarks, the Kano branch controller, CBN, Ameena P. Abubakar stressed the need to review the archaic laws towards meeting the current global challenge of anti-corruption war. According to her, “the CBN is consistently working round the clock to ensure that financial institutions like the banks and Bureau de Change, BDC, adhere strictly to the laws of the CBN.” She reiterated that the CBN is ready to partner with the EFCC towards ensuring that all stakeholders play within the rules of the agency and the law.
The meeting had in attendance, Head, Public Affairs Department, EFCC Kano, Medard Ehimika and his counterpart in the Advance Fee Fraud unit, Aliyu Naibi. Others include Tijjani Zakirai, Ishaku Baba and A. J. Bello, all from the Kano Branch of CBN.
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