The Economic and Financial Crimes Commission (EFCC) has called on banks to deepen collaboration with the Commission and strengthen their Know Your Customer (KYC) processes to curb financial crimes.
Acting Zonal Director of the Lagos Zonal Directorate 1 of the EFCC, Assistant Commander Adebayo Adeniyi, gave the charge on Wednesday, September 10, 2025, while addressing members of the Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN).
Adeniyi stressed that banks are critical partners in fighting corruption, particularly in ensuring compliance with Customer Due Diligence (CDD) and filing Suspicious Transaction Reports (STRs).
“The first point of call for us during investigations should be the bank because you are supposed to do due diligence for your customers. This makes our job easier,” he said, warning against lapses in STR submissions as mandated by the Money Laundering Act.
Responding, ACCOBIN Chairman, Boye Ogunmolade, pledged the association’s commitment to strengthening compliance culture in Nigeria’s financial sector.
