EFCC Chairman Bawa Reveals How Agency Is Fighting Fraud In Financial Institutions

Abdularasheed Bawa, the Chairman of the Economic and Financial Crimes Commission (EFCC) has revealed how the anti-corruption agency is tackling fraudulent activities in financial institutions across the country.

According to the 41-year-old who took office on February 24, 2021

“We are aware of the different shades of fraudulent activities going on in our financial institutions, particularly in the banking industry sector.

“In dealing with this situation, the EFCC, under my watch, has intensified its engagement with bank executives, more than ever before,”

The holder of a Bachelor of Science degree in Economics and Master’s degree in International Affairs and Diplomacy from the Usman Danfodio University, Sokoto further explained that “I recall that upon assumption of office, one of the major pronouncements I made was giving a directive to bankers to declare their assets before June 1, 2021, knowing the rots that permeate the nation’s banking sector.

“Unlike the claims in some quarters, it is not a witch-hunt; rather, it is part of measures to sanitise the country’s financial institutions.”

Bawa who insists that Executives of Banks must do an asset declaration provided insight into the working of the EFCC at a skill horning session organized by the Nigeria Deposit Insurance Corporation (NDIC) for law enforcement agencies in Ogun state capital, Abeokuta.