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2023 ELECTION: EFCC Warns Banks on Election Financing, Others

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2023 ELECTION - EFCC Warns Banks on Election Financing, Others

The Chairman of the Financial and Monetary Crimes Fee (EFCC), Abdulrasheed Bawa, on Thursday, warned monetary establishments to keep away from fraudulent election financing, overseas trade malpractice, and cash laundering within the nation.

Bawa, based on an announcement issued by the EFCC’s Head of Media and Publicity, Wilson Uwujaren, gave the warning throughout an interactive session held in Lagos with the Managing Administrators of banks within the nation.

He stated: “On the EFCC, we wish to place extra emphasis on prevention. We wish to pay much less emphasis on enforcement, which is investigation and prosecution, and put our vitality extra on prevention and asset restoration.

“As well as, among the points we’ve got recognized embody overseas trade malpractices and fraudulent election financing.”

The EFCC Chairman stated the fee would put bankers on their toes because the 2023 elections draw nearer.

He burdened that banks and different monetary establishments have a key function to play within the Fee’s efforts at driving the nation of economic crimes.

He urged the bankers to adjust to the Central Financial institution of Nigeria (CBN)’s tips on the issuance of Private Journey Allowance (PTA) and Enterprise Journey Allowance (BTA) to their prospects.