The Acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, says some banks are helping corrupt government officials to operate secret accounts without Bank Verification Numbers.
Magu also lamented the non-compliance with regulations on money laundering and other related offences by some banks and financial institutions.
The EFCC boss said this on Tuesday at a workshop in Lagos titled ‘Money Laundering and Combating the Financing of Terrorism’ organised by the Chartered Institute of Bankers of Nigeria.
Magu, who was represented by the Head of Operations, Lagos Zonal office of the EFCC, Garba Dagum, described money laundering as a threat to developing and developed countries.
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