Journalism of Courage

Financial crimes: CBN, EFCC to monitor politically exposed persons

The Central Bank of Nigeria (CBN), and the Economic and Financial Crimes Commission (EFCC), have disclosed that they are collaborating on anti-money  laundry and also monitoring politically exposed persons in the country.

The officials of the CBN and EFCC met on Thursday, in Abuja with the aim of strengthening the country’s fight against economic crimes.

The meeting, which took place at the Head Office of the CBN in Abuja, provided an opportunity for the two entities to share experiences and peculiar challenges in the fight against economic related crimes.

The CBN’s Director of Communications, Isaac Okorafor, stated that the two agencies adopted strategies aimed at curtailing the unwholesome activities of economic saboteurs, which includes smuggling of commodities like rice, textile materials, fertilizer, wheat and other items on the prohibition list for accessing foreign exchange through official window, as well as tracking illicit financial flows.

The inter-agency meeting, which was chaired by the Director, Governors’ Department of the CBN, Mr. Jeremiah Abue, also agreed to improve the level of information-sharing and surveillance of the financial sector.

It would be recalled that the CBN under the auspices of the Bankers’ Committee had said that any individual or corporate body found to complicit in economic crime or attempts to circumvent economic laws and regulations of the country may be barred from operating a bank account in any bank in Nigeria.

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