Access Holdings appoints new GMC/CEO, 18 months after the demise of Mr. Herbert Wigwe

Innocent Ike

Access Holdings Plc has appointed Innocent Ike as its substantive Group Managing Director/Chief Executive Officer, effective August 29, 2025, following regulatory approval.

His appointment ends an 18-month interim leadership period under Ms. Bolaji Agbede, who will now return to her substantive role as Executive Director, Business Support.

Ike, a distinguished banker with over 30 years of industry experience, brings deep expertise in corporate, commercial, and public sector banking.

A First-Class graduate of Accounting from the University of Lagos, he is a Fellow of both the Chartered Institute of Bankers of Nigeria (CIBN) and the Institute of Chartered Accountants of Nigeria (ICAN), and a Certified IFRS expert.

He previously served as Managing Director/CEO of Polaris Bank (2020–2022), where he launched VULTe, the award-winning digital banking platform recognized as Digital Bank of the Year by BusinessDay BAFI and Nigerian Fintech Awards in 2021 and 2022.

For Innocent Ike, he now leads an organisation defined by Wigwe’s bold expansionist vision and Agbede’s stabilising hand.

“I am honoured to take on the role of Group Managing Director/Chief Executive Officer,” Ike said after his appointment was confirmed. “I look forward to building on the strong legacy established by Herbert Wigwe and Bolaji Agbede and driving our vision forward, ensuring we continue to deliver exceptional value to our shareholders and stakeholders.”

Source: social media 

Court Orders Final Forfeiture of Livingtrust Mortgage Bank’s N6.6bn Shares, N42.4m, $26.44 in Lagos

Justice F. N. Ogazi of the Federal High Court sitting in Ikoyi, Lagos, on Tuesday, April 15, 2025, ordered the final forfeiture of 

2,041,087,747.00 units of Livingtrust Mortgage Bank Plc, formerly known as Omoluabi Mortgage Bank Plc, valued at N6,674,356,932.69.

The court also ordered the final forfeiture of the sums of N42,461,096.66 and $26.44.

The shares and the funds in the accounts were traced to Cititrust Holdings Plc and its subsidiaries.

The Judge gave the order, following a motion on notice filed by the Lagos Zonal Directorate 2 of the EFCC, Okotie Eboh, Ikoyi, Lagos through its counsel, Ahmad A Usman.

Justice Ogazi had earlier granted the interim forfeiture of the properties and also ordered the publication of the said order in a national newspaper for any interested parties to show cause why they should not be finally forfeited to the victims.

Moving the application for the final forfeiture, Usman said the Commission had published Cititrust Holdings Plc and some of its subsidiaries as part of the companies being prosecuted for operating as a Ponzi scheme. 

He said the properties were found to have been purchased with several investors’ funds.

“The shares were initially purchased from Osun State Government by Cititrust, using some SPVs and later harmonized and transferred to the name of Cititrust Holdings Plc,” he added.

The respondent, Cititrust Holdings Plc, however, contested the EFCC’s application for the final forfeiture through a motion and an affidavit.

In his ruling, the court discountenanced Cititrust’s application and affidavit to show cause and saw merit in the EFCC’s application.

The Judge, consequently, ordered the final forfeiture of the 2,041,087,747.00 units of Livingtrust Mortgage Bank Plc, the sums of N42,461,096.66 and $26.44 to the victims. 

 

The Judge also ordered that the victims be paid what is due to them and the remainder, if any, be forfeited to the Federal Government of Nigeria.

Source: EFCC 

How EFCC Arrests Two Former Bankers for Stealing Dead Customer’s Money in Makurdi

Operatives of  Makurdi Zonal Command of the Economic and Financial Crimes Commission, have arrested two former staff of  Union Bank in Makurdi for allegedly stealing the sum of  N4,199,500.00 (Four Million One Hundred and Ninety Nine  Thousand Five Hundred Naira)  belonging to a deceased customer of the bank.

 

The suspects, Idah Ogoh and Agbo Okwute were arrested on Friday,  June 21, 2024 in Makurdi, Benue State.

 

Their arrest followed  a petition against them by the bank on  fraudulent debits on a deceased customer,  Emmanuel  Azer Agenna’s  account. Their dealings were uncovered when the family of the deceased approached the bank for the balance on the account of the deceased for probate processing. The family disputed the balance given to them by the bank and subsequently sent a complaint to the bank regarding unauthorised debits on the account. 

 

Based on their complaints, the bank  carried out an  internal investigation  and its findings revealed that a debit card  was procured on the deceased’s customer account on May 10, 2023 by Ifah Ogoh,  one of the bank’s Sales and Service Associates  which was authorised by the bank on the same date.

Further findings by the bank showed that the procured card by Ogoh was handed over to another Sales and Service Associates,  Agbo Omwute who eventually delivered the card to an accomplice for transfer and withdrawal of  funds from the account of the deceased. Several withdrawals were allegedly made by the suspects through the  accomplice 

    

The suspects would be charged to court as soon as investigations are concluded.

Source: EFCC 

Nigeria's Apex Bank Revokes Heritage Bank’s Operating Licence

Appoints Deposit Insurance Corporation as liquidator of the bank

The Central Bank of Nigeria (CBN), has revoked the banking licence of Heritage Bank Plc with immediate effect.


According to a statement by the Ag. Director, Corporate Communications of the Appex bank, Hakama Ali, on Monday, said the move was under its mandate to promote a sound financial system in Nigeria, and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020.


According to Ali, the bank had breached Section 12 (1) of BOFIA, 2020, adding that the Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.

“This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline. Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the licens know .


To this effect, the CBN has appointed the Nigeria Deposit Insurance Corporation (NDIC) as the liquidator of the bank under Section 12 (2) of BOFIA, 2020.

“We wish to assure the public that the Nigerian financial system remains on a solid footing. The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system,” the statement added.

Herbert Wigwe's death: I'm deeply Shaken – Saraki

A former president of the Nigeria Senate Dr Bukola Saraki has expressed his sadness over the unfortunate helicopter crash that claimed the lives of Herbert Wigwe, his wife and son in California, United States.

Saraki wrote:

I'm deeply shaken by the news of the helicopter crash in California that claimed the lives of my friend and brother, Herbert Wigwe, the Group Chief Executive Officer of Access Holdings Plc, his dear wife, son, and Abimbola Ogunbanjo, the Group Chairman of Nigerian Exchange Group Plc, alongside two others.

As the longtime CEO and Group Managing Director of Access Bank, Herbert was instrumental in transforming what was once a small commercial bank into one of the top five banks in the nation.

As we mourn his loss, we must view the passing of Herbert and these prominent individuals not just as a personal tragedy for their families but also as a significant loss for the business community and the nation at large.

May the Almighty grant solace to the Wigwe family, the Ogunbanjo family, the Access Bank Group, and all families affected by this tragedy.

CEO of Access Bank, Mr Herbert Wigwe, wife and son died in Helicopter Crash in California USA

Rivers Born Billionaire, who is the Co-founder & CEO of Access Bank, Mr Herbert Wigwe just Passed on.

He Díed in a Helicopter Crash in California USA today, along with his wife and only son.

The tragic development on Saturday, as other sources, helicopter carrying Herbert Wigwe, the Group Managing Director and Chief Executive Officer of Access Holding, and five other people crashed around the California-Nevada Border.

Though no official confirmation has been made from the bank holding company as at press time, sources with knowledge of the matter, however, confirmed to newsmen that Herbert Wigwe was on board the helicopter but cannot ascertain whether his wife or children were involved.

This is such a terrible news, especially for Access family... Access bank may never remain the same.

In his Lifetime,

He was One of Nigeria's Wealthiest Individuals,

As Well as One of Our biggest Charity Donors.

He Also Founded the Wigwe University,

Isiokpo.

May God Almighty Comfort & Preserve his Family.

Credit: Dan Madu (Facebook handle)

Trouble looming for Sterling Bank, Osogbo branch as security operatives may have issues to settle with some of it's staff

 Many of the staff and security attendants of banks in Nigeria resulted to an unprofessional and repressive methods of dealing with customers since CBN naira redesign and eventual scarcity of new notes with endless problems facing bank customers.

Sterling Bank, Osogbo branch has been cought up in this web of inhumane treatment.

Security operatives have reportedly been visiting the bank since early this week following an urgly occurrence against a customer whose phone was smashed by the bank's security door on Monday 6th March, 2023.

Our source confirmed that Alhaja (name whited) whose phone was smashed was in the bank to make a complain about her numerous money transfers that were not delivered. When she was about to enter the bank, the bank's door was remote controlled from the control room and damaged her phone (Hot 10 play).

The complain about the damaged phone was made to the bank manager and the business manager as well. The bank response was that woman should just accept the damage/lost or what if the phone got damaged in another circumstances, what will she do?

The woman demanded to see the Bank's security officer who was responsible for the incident but was denied. It was also said that Bank business manager said the fault must be from the customer not the bank security officer.

It was leant that the CCTV footage review has been demanded for but both the bank manager and business manager are said to be noncooperating. 

It was also leart that an arrest order has been issued against the concerned officials. Today been Saturday, further enquires from the bank seems difficult.

The fact remained that Nigerians have been subjected to an untold hardship and economy of many individuals and families crippled under the current policy.

More photos and video of the smashed phone 👇👇 

© LATEST NEWS PLUS ®👇👇👇

A1 PREMIER MODEL ACADEMY LTD, OSOGBO, OSUN STATE, NIGERIA

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World Bank: $93 billion boost for resilient recovery in world’s poorest countries

$23.5 billion in donor contributions to IDA, World Bank fund for the poor

The world Bank has in a statement Wednesday announced $93 billion replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis

The package is also to build a greener, more resilient, and inclusive future, according to the statement by the body. This was agreed over a two-day meeting hosted virtually by Japan, the largest ever mobilized in IDA’s 61-year history. 

According to the bank: the financing brings together $23.5 billion of contributions from 48 high- and middle-income countries with financing raised in the capital markets, repayments, and the World Bank’s own contributions.

The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

Read The full statement:

WASHINGTON, Dec. 15, 2021 – The World Bank today announced a $93 billion replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future. The financing brings together $23.5 billion of contributions from 48 high- and middle-income countries with financing raised in the capital markets, repayments, and the World Bank’s own contributions.



The financing package, agreed over a two-day meeting hosted virtually by Japan, is the largest ever mobilized in IDA’s 61-year history. IDA’s unique leveraging model enables it to achieve greater value from donor resources – every $1 that donors contribute to IDA is now leveraged into almost $4 of financial support for the poorest countries.



“Today’s generous commitment by our partners is a critical step toward supporting poor countries in their efforts to recover from the COVID-19 crisis,” said World Bank Group President David Malpass. “We are grateful for the confidence our partners have in IDA as a non-fragmented and efficient platform to tackle development challenges and improve the lives of millions of people around the world.”



The funds will be delivered to the world’s 74 poorest countries under the 20th replenishment (IDA20) program, which focuses on helping countries recover from the impacts of the COVID-19 crisis. In these countries, the ongoing pandemic is worsening poverty, undermining growth, and jeopardizing the prospects of a resilient and inclusive development. Countries are struggling with falling government revenues; increasing debt vulnerabilities; rising risks to fragility, conflict, and instability; and dropping literacy rates. About a third of IDA countries are facing a looming food crisis.



To help countries build back greener, a substantial portion of these funds go to tackling climate change, with a focus on helping countries to adapt to rising climate impacts and preserve biodiversity. IDA will also deepen support to countries to better prepare for future crises, including pandemics, financial shocks, and natural hazards. While IDA20 will support countries globally, resources are increasingly benefiting Africa, which will receive about 70 percent of the funding.



With this strong package, IDA will be able to scale up its support in the pandemic and address health challenges, helping 400 million people receive essential health and nutrition resources. The social safety nets program is also expected to reach as many as 375 million people.


The IDA20 program has more ambitious policy commitments that will support countries in prioritizing investments in human capital, covering issues such as education, health and nutrition, vaccines, safety nets, and support for people with disabilities. IDA will also increase its ambition in addressing other major development challenges such as gender inequality, job creation, and situations of fragility, conflict and violence, including in the Sahel, the Lake Chad region, and the Horn of Africa. A continued emphasis on governance and institutions, debt sustainability, and digital infrastructure interventions will help foster economic and social inclusion.

Due to the urgent development needs of IDA countries, the replenishment was advanced by one year. IDA20 will cover the period of July 1, 2022, to June 30, 2025. The IDA20 policy architecture builds on the strong foundation of IDA19, with enhancements to make IDA20 even more ambitious and fit for today’s challenges.

IDA19 achievements key to IDA20 include:


Strong COVID-19 response with nearly 70 countries benefiting from IDA financing for vaccines, health professionals’ training, and hospital equipment.


Over 60 percent of climate financing, in fiscal year 2021 alone, focused on adaptation and resilience; IDA helped 62 countries institutionalize disaster risk reduction plans.


Greater debt transparency through the Sustainable Development Finance Policy introduced in IDA19, with 19 countries publishing annual and timely debt reports in fiscal year 2021.

Man Bags Six Month Jail for N.9m Scam in Kaduna

The EFCC, has convicted and sentenced one Yakubu Samaila before Justice M.T. M Aliyu of the Kaduna State High Court, Kaduna for fraudulently withdrawing the sum of N 935,000 ( Nine Hundred and Thirty Five Thousand Naira) from the account of one Isiyaku Yawale, domiciled at Keystone Bank without his consent.

EFCC Arrests 21 Internet Fraudsters in Umuahia

Operatives of the Uyo Zonal Command of the Economic and Financial Crimes Commission EFCC, on Wednesday, September 29, 2021 arrested 21 suspected internet Fraudsters during a sting operation at World Bank Housing Estate, Umuahia, Abia state.

Court Jails Man for Attempted Bank Fraud in Gombe

Justice S.Y. Abubakar of Gombe State High Court, Gombe has convicted and sentenced one Abubakar Mohammed to four years imprisonment on a four count charge for attempt to commit theft, impersonation, possession and use of false document.

EFCC Charges POS Operators on Compliance with Regulations in Gombe

The Gombe Zonal Commander of the Economic and Financial Crimes Commission, EFCC Babashani Umar Sanda has charged operators and agents of Point of Sale, POS, in the Zone to strictly comply with all extant laws in the discharge of their duties as failure to do so will attract severe sanctions.

Babashani gave the charge on Wednesday 15th September, 2021 in Gombe, when he received in audience Abdulrahman Aliyu, the Chairman of Gombe State Association of Mobile Money and Bank Agents, and members of his association.

“We invited you here to have a discussion regarding an emerging and dangerous trend, where many fraudulent individuals are resorting to the usage of POS to defraud or withdraw proceeds of their nefarious activities.

“The law is very clear on the usage of POS terminals and CBN has its guidelines and regulations also, but to us, Section 37 (2) of the Cybercrimes (Prohibition, Prevention, Etc.) Act is sacrosanct as that has to do with one of the most important factors in your operations which is KYC,” he said.

The Zonal Commander regretted the absence of record keeping by agents and operators of POS terminals, saying that sometimes it makes tracing of fraudsters cumbersome and the operators end up being victims and paying for crimes they know nothing about.

Responding, the Chairman of Association of Mobile Money and Bank Agents, Abdulrahman Aliyu assured of his organization’s commitment in meeting up with requirements demanded by law but regretted that some illegal operators were giving them bad name.

By EFCC

Any Bank That Allows Itself to Be Used for Fraud will Be Held Liable- Bawa

The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa has reiterated his commitment to sanitize the banking sector saying that any bank which allows itself to be used for fraud or money laundering shall be held liable.

Bawa stated this in a paper entitled, `Security, Trust and Leadership Effectiveness’, presented at the 14th annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) on 14th September, 2021 at Transcorp Hilton Hotel Abuja.

The EFCC boss who was represented by Abiodun Adebanjo, Head of Research Unit, Department of Policy, Research and Statistics restated the Commission's determination to ensure that bank officials comply with regulations regarding assets declaration.

He urged financial institutions to embrace transformational leadership and technology which are imperatives for customer security and satisfaction.

``I want to conclude by saying that we must be partners in progress because combating cybercrime requires effective collaboration among relevant public and private institutions, that’s why the EFCC will continue to collaborate with the CBN and the banks in ensuring the security and integrity of the financial system using all the laws that empowers us in dealing with cyber threats,” he said

EFCC Cautions Banks Against Forex Malpractices

The Commander of the Uyo Zonal Command of the Economic and Financial Crimes Commission, EFCC, ACE I Nwanneka Nwokike has warned bank officials against providing foreign exchange to customers who have no intention of travelling outside Nigeria.

Nwokike who gave the warning on Wednesday, September 8, 2021 when he met with Chief Compliance Officers of Banks in the zone, said indications have emerged that some bank customers present fake travel documents including false flight bookings, to obtain foreign exchange.

According to him, the EFCC under the leadership of Abdulrasheed Bawa, has vowed to clamp down on Forex offenders, be they bank Officials or customers. "Always report Bank officials who collude with criminal elements to collect foreign exchange. There are very strong indications that it is happening, … go back and sensitize your staff, to ensure that they always do the right thing because 'doing the right thing' has become the new normal; therefore proper verification of documents presented by customers for Forex must be done. Again, the Commission will not entertain excuses, and will no longer look away when Banks fail to do their due diligence," Nwokike said.


While responding to the issue of customers who book foreign flights and cancel after collecting foreign exchange from banks, the Deputy Zonal Commander ACE II Hamidu S. Bawa instructed the Compliance Officers to report such customers to the Commission. "When you observe such offenders, report them to the Commission and provide their BVN along, because after now, the liability will be on you and I'm sure you don't want that to happen," he said.


The Zonal Commander further asked for a better working relationship that will ensure quick response by banks to letters from the Commission.

By EFCC

At EFCC, Keystone Bank Pledges Support in Preventing Financial Crimes

The Economic and Financial Crimes Commission EFCC, has been called upon to continue assisting the banking sector in investigating and preventing fraud.

The Head - Asset Remedial/Risk Management Division of Keystone Bank, Victoria Island Lagos Mr. Chukwudi J. Okonkwo made the appeal on Tuesday September 7, 2021 during a visit to the Uyo Zonal Command of the Commission.

Referring to the EFCC as a 'strategic partner', Mr. Okonkwo commended the Commission for ensuring that criminal matters are not dismissed as civil and achieving results in dealing with financial crimes. "We call the EFCC our strategic partners and we want the EFCC to continue to guide us on the things we need to know, to prevent the relationship from getting toxic because we want the relationship to improve. We want to pledge our unalloyed support in this fight, as the EFCC has never disappointed, unlike other agencies that are often quick to dismiss certain complaints from the banks as civil, but EFCC will always look deeper. People still take loans from Banks and flee, it's only when you have some of these issues that you will realise the role of the Commission and appreciate the fact that the EFCC is different" Okonkwo said.

Responding, the Zonal Commander, ACE I Nwanneka Nwokike welcomed the visitors and assured them that the Commission is not out to fight banks, but to work with them in fighting financial crimes. He further educated the visiting team on the importance of complying with the 'Know - Your - Customer' directive to banks, and urged them to help the fight against financial crimes by ensuring prompt response to investigation activity letters from the Commission.

EFCC Arrests 10 for Forex Scam in Kano

The Kano Zonal Command of the Nigeria's Anti-graft body, the Economic and Financial Crimes Commission (EFCC) have arrested ten suspected fraudsters for alleged involvement in forging travel documents to procure foreign exchange from commercial banks in Kano.

The suspects were arrested following intelligence which indicated that a syndicate of fraudsters was perpetrating the crime around Fagge and Gwammaja areas of Kano State.

According to the EFCC, they will be charged to court as soon as the investigation is concluded.

Source: EFCC

Group Seeks EFCC’s Help in Preventing Mobile Banking Fraud

The Economic and Financial Crimes Commission, EFCC has been called upon to assist in checking fraudulent practices by some stakeholders in the mobile banking sector in the country.

The call was made when the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) paid a courtesy visit to the Kaduna State Command of the Commission as part of activities to herald the Association’s Annual Conference 2021.

Deputy Commander of the EFCC Kaduna Command, Suleiman Na’aba while commending the association, said that mobile money operators and other stakeholders needed to come together to scrutinize some of the existing laws guiding their operations because most of the members often claim ignorance, thereby falling victims to fraudsters.

Speaking on behalf of the association, Ahmed Bello said partnering with the EFCC at this point is key as the sector is seriously facing rampant issues of sharp practices.

He stressed the need to overhaul the laws as provided by the regulating bodies in tandem with modern and acceptable standards.

The association urged the Commission to organize a sensitization programme for them.

By EFCC

EFCC Hosts Bank Auditors, Urges Transparency in Banking Sector

The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa today, August 24, 2021 affirmed the Commission’s willingness to partner with the Association of Chief Audit Executives of Banks in Nigeria, ACAEBIN, in tackling financial crimes and related challenges in the banking sector. “EFCC welcomes your suggestion of robust partnership. We cannot do this job alone. We need information, and for all Nigerians to be on board, to rid our country of corruption.”

He spoke when members of the ACAEBIN, led by the Chairman, Yinka Tiamiyu paid him a courtesy visit at the Commission`s headquarters, Abuja.

Bawa implored the bank auditors to take issues of transparency in banking operations seriously, adding 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.

“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,” Bawa said.

Tiamiyu in his remarks, said they were in the Commission to seek improved partnership between banks and the EFCC in tacking economic and financial crimes. He reiterated the commitment of banks as lead actors in the nation’s financial system to sanitizing the system, noting that it was not in the interest of the organizations to incubate or suppress financial malfeasance.

Amplifying this point, 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.”

They used the opportunity of the visit to highlight issues of concern to them and their organizations, including fast-tracking the consideration of petitions from banks by the EFCC.

Bawa Engages Bank Chiefs, Warns against Fraudulent Election Financing, Forex Malpractices

The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has sought greater collaboration with financial institutions in the country as a way of tackling fraudulent election financing, foreign exchange malpractices and money laundering.

Speaking on Thursday, August 19, 2021 during an interactive session with managing directors of banks in Nigeria at the Conference Hall of the Lagos Zonal Command of the EFCC, he said it was important to bring the financial institutions in the country up to speed with the evolving policies in the Commission, in line with the United Nations’ categorization of the fight against corruption vis-à-vis prevention, enforcement and assets recovery.

According to him, “At the EFCC, we want to place more emphasis on prevention.

“We want to lay less emphasis on enforcement, which is investigation and prosecution and put our energy more on prevention and asset recovery.

“In addition, some of the issues we have identified include foreign exchange malpractices and fraudulent election financing.

“As you all know, in 16 to 18 months, Nigeria will be preparing for another round of elections, and the government will not want what happened in the past to repeat itself”.

The EFCC boss said it had become necessary to put bankers on their toes, particularly as the 2023 general elections approached.

Bawa

Bawa, who also stressed that the "new EFCC" under his leadership believes that the financial institutions have an important role to play in the Commission’s efforts to rid Nigeria of economic and financial crimes, also used the occasion to charge the bankers to comply with the guidelines of the Central Bank of Nigeria, CBN, on the issuance of Personal Travel Allowance, PTA and Business Travel Allowance, BTA, to their customers.

"You need to ensure full compliance with regard to knowing your customers and ensuring that you do not give opportunities for foreign exchange malpractices”.

Bawa, who disagreed with the allegation of a cat-and-mouse relationship between the Commission and financial institutions in the country, further stated that "Moving forward, come September 1, anything that we see that is happening or has happened within your industry, we are going to deal with it by the books.

“The Commission will ensure that any banker complicit in any such financial fraud will face the full wrath of the law.

“It is better to have fewer banks complying with the laws of the land than to have multiple banks not complying with the laws.”

In his remarks, Kennedy Uzoka, Group Chief Executive Officer of United Bank for Africa, UBA, described the engagement as "a very unique gathering”, adding that “the new leadership of the EFCC is seeing things from a new prism.

"We see a very positive and engaging relationship ensuing between us and the EFCC; and this has been a warm and intelligent engagement with the EFCC.”

Also speaking, Ifie Sekibo, Managing Director of Heritage Bank, assured the EFCC of continuous support in its fight against corruption and also called for a regular engagement with bankers.

Ebenezer Onyeagwu, Managing Director, Zenith Bank Plc, also pledged support for the EFCC war against corruption, noting that "it is a collaborative effort."

By EFCC Staff

Poster Speaks: Some of Many Sins of Godwin Emefiele, CBN Gov.