TheNewsGuru

Tag: Bankers

  • Bankers association directs members to stay off work

    Bankers association directs members to stay off work

    The Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSBIFI) on Friday directed its members in states where banks were being attacked to stay away from work.

    ASSBIFI’s president, Mr Olusoji Oluwole gave the directive in Lagos in a letter to the association’s unit presidents and secretaries.

    He stated that the stay-at-home order would subsist until normalcy was restored.

    “The national secretariat has been inundated with reports of threats and attacks on lives and properties of members and bank branches, and subsequently has been on the field to monitor and confirm the reports.

    “We issued warnings and appeals to government to provide security measures for the safety of lives and properties of our members within and around bank premises.

    “However, regrettably the attacks have continued without any form of security for the safety of our members, the recent being the attack on Feb. 17 on one bank branch at Epe, Lagos State.

    “We cannot leave the lives and properties of our members exposed to obvious danger.

    “Please note, you will be availed further directives as events develop,’’ Oluwole wrote.

  • EFCC to arraign 6 CBN officials, 16 bankers on Thursday over alleged sharp practices on mutilated notes

    EFCC to arraign 6 CBN officials, 16 bankers on Thursday over alleged sharp practices on mutilated notes

    Six officials of the Central Bank of Nigeria (CBN) and 16 bankers alleged in the mega scam involving the theft and re-circulation of defaced and mutilated currencies maybe arraigned in court by the EFCC on Thursday.

    The EFCC has concluded plans to arraign the six top executives of the CBN and 16 other bankers working with commercial banks, following their implication in the mega scam involving the theft and re-circulation of defaced and mutilated currencies.

    While carrying out the assignment, the investigation team was alleged to have found one of the currency boxes filled only with old newspapers rather than 20 bundles of N1000 notes.

    The indicted CBN officials are:
    Patience Okoro-Eye (Abuja) , Afolabi Olufemi (Lagos), Kolawole Babalola (Ibadan), Olaniran Muniru Adeola (Ibadan), Fatai Yusuf, Adekunle (Head, Security, CBN, Ibadan) and Ilori Adekunle Sunday (Akure).

    The lid on the scam, widely suspected to have gone on unchecked for years, was blown on November 3, 2014 via a petition to the EFCC alleging that over N6.58billion was cornered and discretly recycled by top executives of the CBN at the Ibadan branch.

    This sparked off the investigation by the EFCC.

    The deposit banks in this instance are Zenith Bank, FCMB, Wema Bank, Access Bank, First Bank, Skye Bank, Ecobank and Sterling Bank.

    The suspects will be arraigned on a five-count charge by the EFCC before a Federal High Court in Ibadan, Oyo State, between Tuesday and Thursday.

    “The suspects, who were members of the Briquetting Panel, plotted their way to infamy on September 8, 2014, while carrying out a Briquetting exercise at the CBN Branch, Ibadan. In banking parlance, Briquetting is disintegration and destruction of counted and audited dirty notes. By this practice, depositor banks usually take mutilated notes to the CBN in exchange for fresh notes equivalent of the amount deposited.

    “Instead of carrying out the statutory instruction to destroy the currency, they (the suspects) substituted it with newspapers neatly cut to Naira sizes and proceeded to recycle the defaced and mutilated currency,” said EFCC spokesperson, Mr Wilson Uwujaren.

  • How three bankers withdrew N51.9 million from customer’s account with forged NIN – EFCC

    How three bankers withdrew N51.9 million from customer’s account with forged NIN – EFCC

    The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, has arrested three bankers for an alleged case of conspiracy, stealing, forgery and obtaining money by false pretence.

    The suspects, Kagha Emmanuel Uchenna, Okoro Chinasom Davidson and Egbogu Emmanuel Obiora, who are employees of one of the new generation banks, allegedly conspired and defrauded a customer of the bank of the sum of N51, 978, 883. 37 (Fifty-one Million, Nine Hundred and Seventy-eight Thousand, Eight Hundred and Eighty-three Naira, Thirty-seven Kobo.)

    Investigations revealed that the trio forged the signature and National Identification Management (NIM) number slip of the customer, activated his mobile banking application and fraudulently withdrew the money.

    The suspects, who were arrested on July 7, 2021 at the Nsukka, Enugu branch of the bank, have volunteered statements and will be charged to court as soon as investigations are concluded.

    Wilson Uwujaren

    Head, Media & Publicity

    12 July, 2021

  • EFCC chair, Bawa gives bankers deadline to declare assets

    EFCC chair, Bawa gives bankers deadline to declare assets

    The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Abdulrasheed Bawa, says from June 1, 2021, all bankers in the country must declare their assets in line with the Bank Employees Declaration of Asset Act.

    Bawa stated this when he fielded questions from State House correspondents after a closed door meeting with President Muhammadu Buhari at the State House, Abuja, on Tuesday.

    According to him, assets declaration by bankers and financial institutions is part of the measures meant to ensure that the country is free of financial crimes.

    He said: ”We are doing our best to ensure that this country is free of financial crimes.

    ”We understood that the tail end of every financial crime is for the criminal to have access to the funds that he or she has illegitimately gotten, and we’re worried about the roles of financial institutions.

    ”We hope that all financial institutions, particularly the bankers, will declare their assets as provided for by the law, in accordance with the Bank Employees Declaration of Asset Act.

    ”And that the EFCC, come June 1, 2021, will be demanding for this asset declaration forms, filled by the bankers so that the line that we have drawn from the first of June is really complied with by bankers in particular.”

    The EFCC boss, who met with the president for the second time since his appointment last two weeks, revealed that he updated Buhari on the ongoing reforms being carried out by the new management of the commission.

    ”We reviewed a lot of things that we want to do towards eradication of financial crimes in Nigeria.

    ”As you are aware, I was here about two weeks ago before my taking over.

    “He (Buhari) is happy with what he has heard so far with the reforms we are working on with the new EFCC going forward, in terms of the way we investigate, prosecute and the way we are generally executing our mandate,” he added.

    Bawa described the menace of cybercrime as a huge challenge to the country, saying about 300 cyber criminals were apprehended by the commission in the last four weeks.

    He, therefore, appealed to parents, guardians as well as religious and traditional leaders to redouble efforts in educating the younger people on the danger of cybercrime to the nation’s economy and the society.

    ”In the last one month, we have arrested about 300 cyber criminals across the country and it was reported in the media.

    ”It is something that I am particularly worried about.

    ”As a young man, I am appealing to all young Nigerians to desist from these cybercrime activities.

    ”It is bringing bad image to our country, it is giving bad name to our country.

    ”It is also chasing away a lot of foreign investment that we need.

    ”I call on all parents, guardians, and, of course, elders in the community, in the society to be able to talk to these young people to desist from these crimes,” he said.

  • Bankers sign MOU on takeover of National Theatre

    Bankers sign MOU on takeover of National Theatre

    The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has led the Bankers Committee to sign a Memorandum of Understanding (MOU) on takeover of the National Arts Theatre, Iganmu, Lagos, for the purpose of reconstructing the facility.

    Information obtained from CBN’s website on Sunday indicated that the MOU was signed between the committee and the Minister of Information and Culture, Alhaji Lai Muhammed.

    Emefiele said that revamping the theatre would boost creative talents of the Nigerian youth.

    He commended President Muhammadu Buhari for his support for the MOU and for his commitment to supporting the Nigerian youth to realise their full potentials.

    Emefiele also unveiled the contractors selected for the job.

    “We commend Mr President for his magnanimous approval for the handover of the National Arts Theatre, as well as the pivotal role he continues to play in providing the Nigerian youth with limitless opportunities to reach the summit of their capacities.

    “Revamping the National Arts Theatre will unlock the creative talents of Nigerian youths in the fields of music, movie, fashion and information technology,’’ he said.

    Emefiele said the Bankers’ Committee would provide funding for a prototype cluster labelled “The Signature Cluster” which consists of a building each for music, film, fashion and information technology verticals.

    He said in addition, a visitors centre, police and fire stations and a 500-vehicle park would also be built.

    The CBN governor named the main contractor as Cappa and D’Alberto Limited, the electrical sub-contractor as Nairda Limited, while the mechanical sub-contractor is VACC Limited,” he said.

    The News Agency of Nigeria (NAN) reports that present at the ceremony were Gov. Babajide Sanwo-Olu of Lagos State, and Mr Sunday Dare, the Minister of Youth and Sports Development.

    Also, Mr Herbert Wigwe, Managing Director of Access Bank, who doubles as Chairman, Body of Bank CEOs and some representatives of the contractors also witnessed the ceremony.

  • Tension in Kano over mysterious death of professors, bankers, editor, others in 24hrs

    There is tension in Kano State over reports of eleven prominent persons who reportedly died within the last 24 hours.- TheNewsGuru (TNG) has published series of report on mysterious deaths in Kano in the past few days.

    Among those listed in new death recorded include, foremost economist, Prof. Ibrahim Ayagi; professor of physiology, Prof. Aliyu Abdullahi Umar Dikko; the Regional Manager of First Bank in Kano, Abdullahi Lawal; erstwhile Managing Director (MD) of the Defunct Continental Merchant Bank; and Mallam Musa Ahmad Tijjani, ex-Editor of Leadership Sunday and Triumph newspapers among others (See list).

    The cause of death is not yet known, but it might not be unrelated to the novel coronavirus outbreak in the state.

    The coordinator of the Kano technical response team for COVID-19, Dr Tijjani Hussaini, confirmed the deaths.

    However, he said the deaths cannot be linked to COVID-19 until investigations are completed.

    Meanwhile, the COVID-19 testing laboratory in Kano state has remained shut for the past three days following reported lack of testing materials.

    Some of the staff in the laboratory were also said to have tested positive for COVID-19, prompting the shutting down of the facility.

    Governor Ganduje of Kano State has said the situation in Kano State was becoming terrible by the day as cases of COVID-19 pandemic continue to increase in the state.

    This is as the state took samples of fresh 44 persons for testing, while issue of deaths among the elderly has not been settled.

    “But as the situation gets serious, we are surely on top of it, but this requires putting up a testing machine in Kano by the federal government.

    Governor Ganduje, however, assured that nobody that tested positive was in serious need of a ventilator; hence the situation is still manageable.

    He said in order to punish offenders of the current lockdown, they have established ten mobile courts to try anybody found wanting.

    Ganduje explained that they usually transport the samples of suspected cases to Abuja which takes almost 7 hours and in most cases, the samples get wasted, forcing them to look for other samples.

    Governor Ganduje who commended Kano people for observing the total lockdown said the initiative was the only remedy to stop the pandemic.

    “We are appealing to the federal government to as they support Lagos and Ogun States also come to the rescue of Kano State quickly.”

  • Buhari threatens to sanction lawyers, bankers facilitating corrupt practices

    Buhari threatens to sanction lawyers, bankers facilitating corrupt practices

    President Muhammadu Buhari says his administration will ensure effective asset declaration by public office holders and ensure sanctions by professional bodies against lawyers, bankers, brokers, public officials, and other individuals facilitating corrupt practices.

    The president gave this assurance while speaking at the National Democracy Day Anti-Corruption Summit in Abuja on Tuesday.

    Buhari said the government would also close existing legislative loopholes, facilitate collaboration with the judiciary, and strengthen the criminal justice system for effective fight against corruption in the country.

    While ensuring comprehensive support and protection to whistleblowers, witnesses and victims of corruption, the president said his administration would adopt and formulate the policy of ‘naming and shaming’ all those who engage in corrupt practices.

    He, however, maintained that the Federal Government would continue to encourage and honour transparent and honest citizens.

    The president said the government would, “educate, mobilise and encourage Nigerians at the grassroots level to take ownership of the fight against corruption;

    “Press for a crackdown on safe havens for corrupt assets, abolishing of bank secrecy jurisdictions and tax havens on the continent and beyond.’’

    Buhari said that his administration would continue to insist on the unconditional return of looted assets kept abroad and further strengthening of international cooperation through information and mutual legal assistance.

    He pledged that government would also continue to strengthen the capacity of the Economic and Financial Crimes Commission and other anti-corruption agencies by providing additional material, organisational and logistical support.

    “Now, as this administration commences, we are taking stock of progress made so far in the war against corruption, assessing what needs to be done and devising new strategies to address existing challenges,’’ he said.

    According to the president, his administration remains committed to the fulfillment of its promises to Nigerians which included security, economic improvement and fight against corruption.

    The Guest Speaker at the event and former Director of Kenya’s Anti-Corruption Commission, Prof. Patrice Lumumba, lauded Nigeria’s strategies in fighting corruption, as he described the Nigeria’s EFCC as the best anti-corruption agency across the African continent.

    He said: “In 2015, president Buhari said ‘if we don’t kill corruption in this country, corruption will kill Nigeria’ and I can’t agree with him more; and it is not only true about Nigeria but true about Africa.

    “Almost every country in Africa has an agency that is charged with the fight against corruption but the EFCC stands out as the best in the continent because they have demonstrated by wide and deep that corruption can be tackled without sacred cows.

    “We have seen that they have recovered monies from individuals who in other countries they are seen as sacred cows and are untouchable.’’

    Earlier in his remarks, Acting Chairman of the EFCC, Ibrahim Magu, narrated the achievements of the commission in the last four years.

    According to him, the commission has achieved a lot in the fight against corruption, saying that the commission has so far secured 1,207 convictions.

    “The convictions secured by the commission since the beginning of this administration reflects a positive progression.

    “In 2015, we secured 103 convictions; in 2016 we secured 194; in 2017 we secured 189; in 2018 it was 312 convictions and from January 2019 to date, we have 406 convictions.

    “Despite these records, corruption remains a challenge in our country. I believe that the fight against corruption requires a deeper stakeholder approach. The private and public sectors are critical players in this regard,” he said.

    While thanking President Buhari for support and non-interference to the affairs of the commission, Magu also commended some state governments for establishing institutional mechanisms to fight corruption.

    The one-day summit later went into a plenary session, where papers were presented by renowned stakeholders and scholars on how to curb electoral violence and embezzlement of public funds.

    A communiqué is expected at the end of the summit.

  • EFCC warns bankers against money laundering, terrorist financing

    Mr Ibrahim Magu, Acting Chairman, Economic and Financial Crimes Commission (EFCC), has cautioned bank officials in the country against aiding money laundering and terrorist financing.

    Magu gave the warning in a statement by EFFC Spokesman, Mr Tony Orilade on Tuesday in Abuja.

    Orilade quoted Magu as giving the warning at an interactive session with Chief Compliance Officers of banks in Maiduguri, the Borno capital.

    The EFFC chairman urged bankers to ensure strict compliance with the Money Laundering Act.

    According to him, bankers must endeavour to report to the anti-graft agency, cash movements that fall above the allowed threshold.

    “Nobody should carry cash above the threshold of above N 10 million for corporate organisations and N5 million for individuals

    “Anything above the threshold must be routed through financial institutions,” he said.

    He further said that the issue of money laundering, terrorist financing and leakage of information would be eliminated by the commission with the help of bankers across the country.

    Magu said the EFCC would soon commence the profiling of Non-governmental Oragnisations (NGOs) in the North-East with a view to monitoring their financial activities.

    “We must profile all the NGOs in the North-East, I don’t know why an NGO will open more than 40 bank accounts.

    “We are going to ask your various banks to give us statements of accounts for each and every NGO,” he said.