Chairman of the EFCC, Ola Olukoyede, has pledged to strictly implement financial regulations to cleanse Nigeria’s banking industry.
During his address at the CIBN’s Annual Banking and Finance Conference, he cautioned that senior officials implicated in financial misconduct will face serious consequences, with legal actions expected to follow soon.
He said, “Corruption is the key issue in terms of the promotion of insecurity in this nation. When people talk about insecurity and national development, one factor that is important to note is the implication of corruption on national security management and development.
“It is time for us to collectively fight corruption which has become a major challenge to our nation’s development. The loss of resources to corruption denies our nation the resources we should have used to provide infrastructure and digital services for our people, deepening the poverty we experience in this country.
“Corruption breeds poverty, which in turn makes the jobless embrace recruitment into banditry, kidnapping, and terrorism. We will continue to monitor the flow of funds, especially in the banking sector, to ensure that illicit money doesn’t get into the hands of bandits, kidnappers, and terrorists. Full Details”
