Abdulrasheed Bawa, EFCC Chairman
Oct. 29, 2021
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa has again warned on the dangers of illicit financial flows to the Nigerian economy.
According to the EFCC boss, who was represented by the Director of Operations, Abdulkarim Chukkol, the nation has over the years lost enormous resources to illicit financial flows.
He however, noted that the Commission has initiated measures to check the trend, while listing the measures to include working with banks to enforce compliance with anti-money laundering regulations, the creation of foreign exchange malpractice fraud sections in the Commission as well as joint operation at the airports in the collaboration with the Nigeria Immigration Service and the Nigeria Customs Service among others.
Bawa further implored everyone, especially banks to join the fight against illicit financial flow by creating a system to authenticate genuine travelers and others entitled to forex allocations, to save the Naira from further depreciation
The event featured participants from the Central Bank of Nigeria, CBN, Bureau De Change Operators, BDCs, Students and other stakeholders in the financial sector.
