The Central Bank of Nigeria (CBN) has threatened to bar persons indicted of committing economic crimes from operating bank accounts in Nigeria.
The CBN issued the threat during an inter-agency parley between the CBN and officials of the and Financial Crimes Commission (EFCC) aimed at strengthening the fight against economic crimes.
The meeting, which took place Thursday, at the Head Office of the CBN in Abuja, provided an opportunity for the two entities to share experiences and peculiar challenges in the fight against economic related crimes.
The two agencies adopted strategies aimed at curtailing the unwholesome activities of economic saboteurs which include smuggling of commodities like rice, textile materials, fertilizer, wheat and other items on the prohibition list for accessing foreign exchange through official window, as well as tracking illicit financial flows.
Other areas which the two agencies are collaborating include anti-money laundry and the monitoring of politically exposed persons in the country.
The inter-agency meeting, chaired by the Director, Governors’ Department of the CBN, Mr. Jeremiah Abue, also agreed to improve the level of information-sharing and surveillance of the financial sector.
Part of the consideration reached was the need to adopt the Bankers’ Committee proposal to bar individual or corporate body found complicit in economic crime or attempts to circumvent economic laws and regulations of the country from operating a bank account in any bank in Nigeria.