Officials of the Economic and Financial Crimes Commission
Due to the rising spate of bank frauds in the banking sector, the Economic and Financial Crimes Commission, EFCC have stated that it is not compulsory for Nigerians to have bank accounts.
The EFCC also kicked against the idea of opening bank accounts with only phone numbers, arguing that nearly 40 percent of Americans do not have accounts.
Bawa Usman, zonal head of the EFCC in Sokoto made the statement on Tuesday at a roundtable with compliance officers of commercial banks.
He said; “Nearly 40 per cent of Americans do not have accounts. So, it is not very compulsory for everybody in Nigeria to have a bank account.”
According to Usman, whose zone covers Sokoto, Kebbi, and Zamfara, insiders facilitate most financial frauds in the banking industry.
The commission convened the meeting to strengthen the relationship and collaborations between the EFCC and the banks in tackling frauds.
The EFCC boss further said the banks often frustrated the EFCC’s investigations as they delayed replying to its letters.
“Such delays jeopardise 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 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