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    Olukoyede charges banks’ CEOs to play by the rules

    Opalim LiftedBy Opalim LiftedFebruary 21, 2024No Comments4 Mins Read
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    EFCC fighting corruption to protect your future - Olukoyede tells students
    EFCC fighting corruption to protect your future - Olukoyede tells students
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    The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has called on Chief Executive Officers and CEOs of banks across the country to always abide by extant regulations and rules in their practices as an effective means of tackling economic and financial crimes and other acts of corruption.

    Olukoyede stated this in Abuja on Tuesday, February 20, 2024, while receiving the Body of Bank CEOs, under the auspices of the Chartered Institute of Bankers of Nigeria, CIBN, that paid him a courtesy at the corporate headquarters of the EFCC. He frowned at sharp practices, compromises, and unethical practices in the banking sector, stressing that the ethical reorientation of bank workers is imperative to sanitising the sector.

    “I think the essential thing is for you all to play by the rules. Banking fraud affects the economy considerably. We are ready to work with any bank executive that plays by the rules because that is the only way to grow the economy,” he said.

    Olukoyede assured the CEOs that the Commission would work together with them in a way that would encourage mutual trust, which would help banks and businesses grow the economy.

    “We will work together; we don’t want to see any bank go down; we don’t want to see any business destroyed, especially when you are set up to create wealth and employment, and that is what we need in Nigeria. You help businesses grow; why should any government want to bring banks down? But there are enterprises that are set up to destroy the system and the economy; we will not allow those ones to survive,” he said.

    Olukoyede reminded the banks’ CEOs that his focus is to use the instrumentality of the Commission’s mandate to stimulate the economy. “One of the policy objectives that I share with Nigerians in the course of my Senate screening and confirmation is to use the instrumentality of this mandate to stimulate the economy. That is very important, because I know what other anti-corruption agencies do all over the world, and that is the key to us, and we have started doing that,” he said.

    • Olukoyede tasks NURTW, RTEAN against illegal mining

    Earlier in his address, Managing Director, Standard Chartered Bank, Lamin Madang, who led the group, commended Olukoyede on his appointment and admitted that he is succeeding in rebranding the image of the EFCC.

    “Let’s start by congratulating you, Mr. Olukoyede, for your appointment as the Executive Chairman of the EFCC. We commend your leadership for the efforts to rebrand the image of the EFCC as an institution that embraces professionalism while prioritising a humane approach in the conduct of your operations.

    We also commend the Commission for its proactive stakeholder engagement with religious leaders, youth, and traditional rulers in the collective fight against corruption. This demonstrates a firm commitment to mobilise and foster widespread participation in the anti-corruption crusade,” he said.

    He further commended “the Commission for the significant progress that you have made in combating corruption, as evident in your adherence to international conventions and protocols aimed at proactively deterring corrupt practices through effective policies and inclusive stakeholder participation. We also note and commend the Commission’s outstanding achievement in securing a total of 3785 convictions in 2022, which stands as the highest number attained by any law enforcement agency in the world.

    Additionally, we applaud and acknowledge the Commission for its ongoing dedication, which is evident from the records of 1688 convictions recorded between January and September 2023. This remarkable accomplishment reflects the Commission’s unwavering commitment to holding justice and the rule of law in Nigeria.”.

    Madang, who led CEOs of Polaris Bank, Premium Trust Bank, Citi Bank, Globus Bank, and Jaiz Bank to the meeting, called on the EFCC to review its policy on post-no-debit (PND), on suspicious accounts, invitation bank workers for interrogation, including CEOs, and accept soft copies of bank statements for investigations, among other requests.

    Olukoyede explained that the EFCC was always mindful of operating within the ambit of the law in its operations, and no bank CEO would be invited to any meeting if there was no need for it. “We are committed to a mutually beneficial relationship with you all. All our efforts are geared towards growing the economy,” he said.

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    The United States has carried out successful airstrikes in Iran, destroying nuclear sites in the Arab nation. This was announced in a statement on X by US President Donald Trump on Sunday. According to the statement, the successful airstrike led to the destruction of three nuclear sites in Iran. Trump disclosed that “a full payload of bombs was dropped on the primary sites” in Fordow, Natanz and Esfahan, turning the nuclear sites into ruins. This intervention by the US comes after protracted airstrikes between Israel and Iran, which have led to the death of over 200 people and the destruction of properties. In a bid to stop Iran from the completion of its nuclear weapons, Israel launched missile strikes into Iran last Friday, killing some army chiefs and nuclear scientists. In retaliation, the Arab nation attacked Tel Aviv with nuclear weapons, targeting residential areas and even a hospital in Beersheba, Southern Israel. In a bid to quell the hostilities between both nations, Trump demanded the “unconditional surrender” of Iran, a call which infuriated the Supreme Leader of Iran, who vowed never to surrender. According to Trump, all US fighter jets which carried out the bombings in Iran have successfully returned to American soil with no casualties recorded. “We have completed our very successful attack on three nuclear sites in Iran, including Fordow, Natanz and Estahan,” Trump said. “All planes are now outside of Iran airspace,” he added. “A full payload of bombs was dropped on the primary site, Fordow. “All planes are safely on their way home. Congratulations to our very great warriors. There is not another military in the world that could have done this; now is the time for peace. “Thank you for your attention to this matter,” the US president added. At the time of filing this report, Iran had yet to confirm the attack; however, its Supreme Leader, who has gone into hiding in underground bunkers for fear of assassination, had threatened to attack America in the event it carries out an attack in Iran.

    US carries our successful airstrikes in Iran, destroys three nuclear sites

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