The Economic and Financial Crimes Commission (EFCC) has called on banks to investigate their customer’s source of income. Abdulrasheed Bawa, EFCC chairman, said this on Tuesday when members of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) paid him a courtesy visit in Abuja.

The commission implored the auditors to take issues of transparency in banking operations seriously, adding that beginning from September 1, it would no longer be business as usual, as the commission would hold banks liable for established cases of institutional complicity in fraud.

“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 this information including their linked accounts,” he said.
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