Tuesday December 23, 2025
www.thenewsdesk.ng
The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to bank compliance officers in the South-East, charging them to act as vigilant gatekeepers of the financial system rather than facilitators of illicit activities.
The Executive Chairman of the EFCC, Mr. Ola Olukoyede, gave this charge on Thursday in Enugu during a sensitization programme organized by the Enugu Zonal Directorate of the Commission for compliance officers in the region.
Represented by the Zonal Director, Enugu Zonal Directorate, CE Daniel Isei, the EFCC Chairman emphasized that compliance officers serve as the watchdogs of the banking sector.
He stressed that their primary role is to guide operations to align with national anti-money laundering measures, warning that the Commission would no longer tolerate willful blindness to financial crimes.
Olukoyede specifically condemned the unethical practice where some bankers tip off customers when the EFCC requests a “Place No Debit” order on an account.
He described such actions as criminal and a direct sabotage of national security efforts.
“You do not know the volume of information available to the investigator. To be safe, deal strictly with the information and back off,” Olukoyede cautioned.
“You don’t know if the said customer is flagged under the United Nations list, or if it is a request from the National Security Adviser. But because the man has a huge deposit, some officers alert the customer, asking, ‘What is your problem with EFCC?’ We know all these things, and it shouldn’t continue.”
The Chairman further warned that under his watch, the Commission would not tolerate situations where individuals are allowed to operate accounts without a Bank Verification Number (BVN).
He dismissed excuses blaming technical failures from the Nigeria Inter-Bank Settlement System (NIBSS), insisting that compliance officers must stand their ground to ensure robust and steady growth for their institutions without attracting regulatory sanctions.
He noted that timely cooperation is essential, urging the officers to honor Letters of Investigation promptly, as delays effectively stall inquiries.
“The essence of our job is also to serve as a deterrent. You are gatekeepers, not facilitators of criminal activities. That has to be clearly understood. It is what you allow to pass through your gate that gets out,” he stated.
Despite the warnings, Olukoyede commended the banks for their role in helping to remove Nigeria from the Financial Action Task Force (FATF) grey list and for sharing vital intelligence.
He enjoined financial institutions in the South-East to strengthen their Know Your Customer (KYC) and due diligence protocols to assist the Commission in ridding the region of corruption and economic crimes.
Be Gatekeepers Against Crime Not Facilitators- EFCC Tells Bankers
