The Acting Chairman, Economic and Financial Crimes Commission, EFCC Ibrahim Magu has cautioned bank officials in the country against aiding money laundering and terrorist financing.
Magu who gave the warning at an interactive session with Chief Compliance Officers of banks in Maiduguri, Borno state urged bankers to ensure strict compliance with the Money Laundering Act.
According to EFCC Boss, bankers must endeavour to report to the anti-graft agency, cash movements that fall above the allowed threshold. He further said that the issue of money laundering, terrorist financing and leakage of information would be eliminated by the commission with the help of bankers across the country.
Magu said the EFCC would soon commence the profiling of Non-governmental Oragnisations, NGOs in the North-East with a view to monitoring their financial activities.
