The Economic and Financial Crimes Commission, EFCC, has urged the banks to investigate their customers’ sources of income.

Addressing members of the Association of Chief Audit Executives of Banks in Nigeria, ACAEBIN, who visited him in Abuja, Abdulrasheed Bawa, EFCC chairman, said: “I will like to urge you to know your customers, know the kind of businesses they do before opening an account for them because some customers will open an account within a space of two months a huge sum of money is found in the account, so there is need for you to try and query these information including their linked accounts.

He urged the bank auditors to take issues of transparency in banking operations seriously; stressing that starting from September 1, 2021 it will no longer be business as usual as the commission will hold banks liable where there are established cases of institutional complicity in fraud in the sector.

Responding, Uduak Udoh, vice-chairman of the association, said: “Some customers are conniving with bank staff to loot funds. We want you to look into that area, not only the banks as we are ready to give you all the cooperation you need; we want you to trust bank auditors with information sharing because we cannot support fraudulent staff as they are a threat to the organization.”